Vegetable oil account for 40% of Ukraine farm exports so far in 2020/21

KYIV: Ukraine exported $4.4 billion worth of vegetable oils in the first half of the 2020/21 season, accounting for 40% of all Ukrainian agricultural exports, national vegetable oil producers' union the Ukroliyaprom said.

Sunflower oil accounted for 77.73% of the exports, it said.

Oils and fat products worth $3.3 billion were exported in the same period a year earlier.

The average sunoil export price rose to $1,088 from $731 a year earlier, the union said.

In 2019/20, Ukraine, the world's largest sunflower oil exporter, produced 7 million tonnes of sunoil and exported 6.632 million tonnes.

Analyst APK-Inform said on Wednesday that Ukrainian sunoil asking export prices have risen by more than $100 a tonne this week, following a global upward trend.

It said Ukrainian-origin sunoil prices rose to a range of $1,710-$1,725 per tonne FOB Black Sea for delivery in March-May.

Sunoil traded between $1,480 and $1,500 per tonne FOB Black Sea two weeks ago.