Before the full-scale invasion of the Russian Federation, sunflower oil was the most exported Ukrainian product. The share of Ukrainian sunflower oil in the world market was 31%. Due to the complication of logistical routes and other war factors, exports have significantly decreased, which is already reflected both in the domestic and foreign markets.
In Ukraine, in particular, there is a tendency to decrease the cultivated area, accordingly, this will cause a reduction in oil production, and may provoke a shortage and a rapid increase in the price, which will have global consequences for the whole world.
This was noted by the Minister of Agrarian Policy and Food of Ukraine, Mykola Solsky, during a speech at the thematic panel “Satisfying global demand for sunflower oil” within the framework of the G-20 conference on the sustainable development of vegetable oils in the world.
“Considering the current difficulties with transporting sunflower oil, Ukraine has also started selling the primary raw material – sunflower seeds. During the operation of the grain corridor, 0.5 million tons were exported. But in the current circumstances, we receive significantly less export revenue, we observe a decrease in the level of domestic processing, we realize that the costs of our producers have increased significantly and production has become economically unprofitable,” said the Minister.
Despite all the circumstances, Ukraine is still ready to be among the guarantors of food security in the world. It is able to provide not only domestic food needs but also the needs of other countries.
“The future fate of the world’s food security is unknown. The future fate of many people. What is known for sure is that for the occupiers, the worsening of the global food crisis is another way to destabilize the world. However, by joining forces with our partners, we are able to prevent this from happening. We are able to stop the emergency rise in prices. And they are able to save the most valuable thing – people’s lives,” the Minister said.
At the G-20 conference on the sustainable development of vegetable oils in the world, the Ukrainian side once again called on all countries to strongly condemn Russian aggression at all levels to demand that Russia stop playing games with food and return to its obligations.