In MY 2016/17 about 7% of vegetable oils global exports will be provided by Ukraine

According to the latest report “Oilseeds: World Markets and Trade”, in 2016/17 MG total volume of world exports of vegetable oils will reach 78.58 MMT, exceeding the previous season”s performance by 6% (4.98 MMT).

A key component in the above mentioned volume will be palm oil, exports volume of which in the current season is expected to reach 47.49 MMT (+ 8% compared to the 2015/16 season). Main shipments will be carried out by Indonesia and Malaysia (25.7 MMT and 17.5 MMT, respectively).

Foreign shipments of rapeseed oil for this season are expected to reach 14.25 MMT, of which 9.80 MMT will be of Canadian origin (against 10.28 MMT in the previous marketing year). Accordingly, the global index of export compared to the last season expects a reduction by 6% to 14.25 MMT.

Exports of soybean oil are projected at 11.58 MMT, which is 2% below the results of the previous season. Some reduction in foreign shipments of this product will occur on the part of all key exporters – Argentina (-1% to 5.65 MMT), Brazil (-10% to 1.4 MMT), the USA (-5% to 0.98 MMT).

With regard to sunflower oil in MY 2016/17, total world export of the product is expected to grow (by 10% to 8.98 MMT) in contrast to the previous two categories of agricultural products. Ukraine will remain as a key supplier of sunflower oil on the world market. It is projected that our country will export 5.1 MMT in MY 2016/17 of such products (+ 13% compared with the previous season). The volume of exports of other vegetable oils will remain relatively small and will be about 0.3 MMT.

However, these values are to going to secure a place for Ukraine in the list of the largest suppliers of vegetable oils in the world during the current season. USDA projected the volume of foreign shipments of such products at the level of 5.36 MMT, which will be about 7% of the world total shipments.