Ukraine's Sunflower Oil Exports Plummet Amid Shipping Halt
Ukraine's sunflower oil exports have plummeted to half of their previous volume due to halted seaborne shipments. According to Stepan Kapshuk, CEO of Ukroliyaprom Association, monthly exports now stand at approximately 300,000 tons.
In August, daily exports averaged between 5,000 and 7,000 tons of sunflower oil, with an additional 2,000 to 3,000 tons of rapeseed and soybean oil. This totals around 8,000 tons per day or 300,000 tons per month.
Kapshuk attributed the decline in exports to logistical bottlenecks, which have also driven down local sunflower seed procurement prices. However, he expects these issues to be resolved within two to three weeks.
Ukraine's domestic vegetable oil production is expected to reach 7 million tons by the end of the year, with a surplus of over 6.7 million tons available for export. The association head emphasized that there will not be a shortage and urged the population to remain calm.