Blockade of ports: the whole world feels the lack of Ukrainian sunflower oil
Sunflower oil is one of the three pillars of Ukrainian exports of agro-industrial products.
This is stated in the message of the Association "Ukrainian Club of Agrarian Business" (UCAB).
As noted, unlike wheat and corn (two other major components of Ukrainian agricultural exports), sunflower oil is a processed product, that is, a value-added product that is produced on the territory of Ukraine.
The UCAB emphasized that, according to the results of 2021, Ukraine could export 5.1 million tons of this product. TOP-5 world exporters of sunflower oil in the world in 2021: 1st place - Ukraine with a volume of 5.1 million tons; 2 - Russia, 2.4 million tons; 3 - the Netherlands, 0.7 million tons; 4 - Turkey, 0.6 million tons; 5 - Argentina, 0.6 million tons.
“For more than one year, Ukraine has been holding the status of the world's largest exporter of sunflower oil. And now, it is doing everything possible to continue to provide them with peace, because the restriction of Ukrainian exports due to the blocking of seaports by Russian troops has led to a sharp increase in prices for all types of vegetable oils and their shortage. Many countries of the world do not care what vegetable oil to consume: sunflower or rapeseed, soybean or palm. That is, in many cases they are interchangeable.
The understanding that Ukrainian exports were temporarily blocked led to an increase in prices for all vegetable oils by 23% in just a month (FAO index data for March 2022). And therefore, there are a lot of interested parties both from Ukraine and the world in unblocking seaports, and this literally concerns every inhabitant of our planet,” the UCAB emphasizes.