Source: Oleoscope (Russia)
Ukraine, a major global supplier of sunflower meal, experienced a significant decline in exports during the first 4 months of the 2023/2024 season. Data indicates a drop of almost a third compared to the same period last year. Specifically, exports reached 1.1 million tonnes, representing a 31% decrease.
Several factors contributed to this downturn. Firstly, reduced sunflower seed production last year played a crucial role. Consequently, less raw material was available for processing into meal. Secondly, logistical challenges, including port disruptions, continued to hinder export operations. The war in Ukraine has presented difficulties in transportation and shipment. Moreover, competition from other exporters, particularly those with lower prices, impacted Ukrainian sunflower meal’s competitiveness in international markets.
Despite the decline, Ukrainian sunflower meal remained in demand. Demand largely stemmed from traditional markets like the European Union. However, shifting trade patterns and evolving consumer preferences influenced overall export volumes. Moreover, the ongoing war continued to affect the agricultural sector profoundly.
Looking ahead, the future of Ukrainian sunflower meal exports hinges on several factors. Firstly, the size of the upcoming sunflower harvest will be critical. Secondly, resolving logistical bottlenecks is essential. Furthermore, adapting to changing market dynamics and strengthening competitiveness will be vital for regaining lost ground. Consequently, industry experts are closely monitoring the situation. Overall, the situation remains complex, requiring a flexible and proactive approach. The hope is for a rebound in the coming months.