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According to operational data, Ukraine's sunflower oil exports rose to a five-month high in April of the current season, reaching 478,000 tonnes, up 9% compared with March. However, this volume represents the lowest figure for this month in the past three seasons, according to agronews.ua.
It is worth noting that the bulk of exports traditionally head to the European Union, although shipments to that destination recorded a slight decline, totalling 235,000 tonnes (-2%).
By contrast, exports to Turkey doubled to reach 69,000 tonnes, the highest monthly volume shipped to that country in the past twelve months.
Exports to India, meanwhile, fell 48% to 48,000 tonnes, a decline attributed to growing seasonal interest among Indian importers in sunflower and soybean oils from Argentina, as well as rising demand for palm oil, which has become more price-competitive compared with other vegetable oils.
Nevertheless, it should be noted that total Ukrainian sunflower oil exports to India since the start of the current season (September to March) have tripled, reaching 374,000 tonnes, according to data from the Solvent Extractors' Association of India (SEA). At the same time, Russia remains the leading supplier to the Indian market, with its shipments rising to 1.1 million tonnes over the same period, up 72%.
By the end of the seventh month of the 2024/25 season, Russia held around 65% of the Indian market (compared with 36% in the same period of the previous season), Ukraine held 22% (compared with 7%), while Argentina's share fell to 7% (compared with 16%).
Analysts noted that "Ukraine still has an opportunity to increase its share of the Indian market by the end of the current season, given the good availability of sunflower seeds and prospects for higher production and exports. However, growing competition from Argentine sunflower oil, which could see record production this season, along with the seasonal rise in soybean oil and palm oil supplies, may make this scenario less likely."
Source: Al Mal Forum