Source: Oleoscope (Russia)
Sunflower oil has become the leader of agricultural exports from Ukraine in 2024. It was sold abroad for more than $ 5 billion, the country’s Economy Ministry said. The top sellers of agro-processed products were also sunflower meal, worth more than $1bn, and soybean oil, worth $311 million.
A key factor in achieving the results was the normalization of Ukraine’s seaports. If in 2023 Ukraine exported 54.8 million tons of products by sea, in 2024 – already 87.2 million tons.
According to Taras Kachka, Deputy Minister of Economy of Ukraine, in 2024 the European Union remained the key trade partner of the country. Exports of goods to the EU reached $24.5 billion, which is more than $1 billion more than in 2023 and accounts for more than 59% of annual exports as a whole. In the coming year, the country plans to focus on finding a solution to access the EU market for the remaining agricultural products.
Outside the EU, Ukraine’s key trading partners in agro-industrial exports in 2024 are:
- China ($2.3 billion);
- Turkey ($2.1 billion);
- Egypt ($1.6 billion);
- India ($986 million);
- Moldova ($935 million).
In addition to processed products, significant exports in 2024 are noted to be raw materials:
- corn – $4.9 billion;
- wheat – $3.68 bln;
- iron ore – $2.75 billion; and iron ore – $2.75 billion;
- soybeans – $1.29 billion.
Ukraine plans to reach the mark of 77 million tons of exports of agricultural products in physical terms by the end of 2024. In 2023, the country exported 67.3 million grains and oilseeds per calendar year. If the figures are achieved, the country will approach the second historical record for exports of agricultural products in both absolute and monetary terms.