In January-August 2022, Ukraine doubled its revenues from the export of oilseeds compared to the same period last year – up to $1.71 billion, but reduced the supply of vegetable fats and oilseed processing products – by 11%, to $3.65 billion.

As reported on the website of the National Research Center Institute of Agrarian Economics, during the specified period, 1.6 million tons of sunflower seeds were exported for $823 million, 0.9 million tons of rapeseed for $415 million and 0.8 million tons of soybeans for $413 million.

It is specified that the largest buyers of oilseeds for the eight months of 2022 were Romania (19.3% of the total), Bulgaria (18.0%), Turkey (16.9%), Poland (12.2%), Hungary (7. 9%), Germany (5.9%), Moldova (3.7%) and the Netherlands (3.1%). The total share of these eight countries in domestic exports of oilseeds was 87%.

In turn, in January-August 2022, Ukraine exported vegetable oils and fats of all kinds for $3.65 billion, which is 11% less than last year’s figures for the corresponding period.

According to the IAE, the main export product of this group is sunflower oil, whose export earnings for eight months of this year amounted to $3.36 billion, or 92% of all supplies of oil and fats.

The largest buyers of Ukrainian vegetable oils and fats of all kinds in January-August 2022 were Poland with a share of 14.5%, followed by India (11.7%), Turkey (9.8%), the Netherlands (8.1% ), Italy (5.4%), Bulgaria (4.9%), Spain (4.7%), Romania (4.5%). Together, these countries account for about 64% of the export value of vegetable oils and fats.

“The final figures for the export of oilseeds and vegetable oils in 2022 will largely depend on the ability of Ukrainian exporters to make the most of the established routes for exporting products, including through seaports using the “grain corridor,” the IAE summed up in the message.