14 December 2022

In November sunflower oil export out of Ukraine made 480k tons with the total value of $534 mln.

Since the start of grains corridors operations in August average monthly Ukrainian sunoil export makes about 450k tons, two times higher vs. April-July period (when Ukrainian ports have been closed).

Since the beginning of Y2022 and till the end of November Ukrainian sunflower oil export made 3.8M tons for $5bln.

As for sunflower seeds export, in a view of new harvest and as crushing margins remain at record-high for the several last years levels, it increased from 180k tons in September to 380k tons in October and 397k tons in December (in oil equivalent it makes about 180k tons).

In case grains corridor will continue to operate, we can expect that sunseeds export will decrease as well as crushing margin (competition between the crushers should lead to growth of sunseeds domestic prices vs. export ones).

In November Ukrainian rapeseeds export was still quite good at 521k tons (total rapeseeds harvest in Ukraine in Y2022 made 3.1M tons – it is almost fully exported now).

Soybeans export in reporting month made 384k tons vs. 214k tons in October. Taking into account good soybeans crop in Ukraine in Y2022 in case grains corridor will continue to operate we expect that total soybeans export in the season 2022/23 will make about 2M tons).