March 3, 2024

In February, the Ukrainian export of sunflower oil again (for the third month in a row) crossed the mark of 600,000 tons.

According to preliminary data of customs statistics, Ukrainian sunflower oil exports in February 2024 amounted to 603,000 tons - almost no changes vs. previous month, but 50% higher y-o-y.

In the first half of the 2023/24 season, Ukrainian companies exported almost 3.2 million tons of sunflower oil, vs. 2.7 million tons a year ago. As a reminder, for the calendar year 2023, Ukrainian sunflower oil exports amounted to 5.7 million tons worth $5 billion (in 2022 - 4.3 million tons worth $5.5 billion).

The monthly dynamics of exports during the last two seasons is shown in the following graph:

Regarding the structure of the biggest Ukrainian sunoil exporters, we note a significant increase in exported volumes in the current season by Bunge Ukraine (before the full-scale invasion, this group was a stable number two on the Ukrainian market, for example, its share among sunflower seeds crushers in the 2020/21 season was 11%, but after the start of a full-scale Russian invasion group significantly reduced production). Kernel remains the undisputed market leader among the crushers and sunflower oil exporters.