Ukrainian oilseeds export digest August 2017

9 August 2017

In MY2016/17 Ukrainian companies exported record-high 5.842M tons of sunflower oil, which has been much higher vs. previous highest value 4.5M tons reached in previous season.

In reporting month Ukraine exported near 388k tons of sunoil (USD 285M), which was lower than in July (510k tons), but is still rather high value of monthly export, taking into account August is the last month of marketing year and usually sunflower seeds stocks are low towards the end of season. Vs. August 2016 sunflower oil export in last reporting month grew by more than 50%.

Since the beginning of MY2016/17 Ukrainian sunoil export made 5.84M tons. Its much higher vs. our initial projections as well (5.2M tons), so as of today with rather high degree of certainty we can state that factual sunflower seeds harvest in Ukraine in Y2016 was by 1.2-1.4M tons higher than officially reported by official statistics value (13.6M tons). Taking into account presence of rather large black market for grains and oilseeds in Ukraine export is one of the most objective tool to estimate real sunflower seeds crops.

Monthly sunoil export dynamics for MY2016/17 looks as follows:

Ukrainian sunoil export dynamics August 2017

Export of Ukrainian soybeans since the beginning of April has been much less active vs. previous months. In August soybeans export made 43k tons, during April-August 514k tons (vs. 490k tons in March alone).

In total since the beginning of current season Ukrainian companies exported 2.9M tons of soybeans (in Y2016 total Ukrainian soybeans harvest made 4.3M tons), which is higher than in previous season (about 2.4M tons). General soybeans export dynamics in MY2016/17 is represented on the chart below:

Ukrainian soybeans export dynamics August 2017

In August Ukrainian companies actively exported rapeseeds export figure comprised 517k tons, in total during July-August about 640k tons. Total rapeseeds crop in Ukraine in Y2017 made 2.3M tons (by about two times higher than in previous year), which means that Ukraine is to significantly increase rapeseeds export vs. MY2016/17 (when it amounted to 1M tons).

Soybean oil export in last reporting month made about 14k tons (at the level of July) for USD 10.3M. Oilseeds meals (mainly sunflower meal) export - 250k tons (USD 43M).

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