Category

Countries

Rise and Shine Time for Ukrainian Sunflower Oil Exports, Claims Ukraine Minister

Rise and Shine Time for Ukrainian Sunflower Oil Exports, Claims Ukraine Minister

Rise and Shine Time for Ukrainian Sunflower Oil Exports, Claims Ukraine Minister

  • 07-Nov-2022 3:12 PM
  • Journalist: Nicholas Seifield

Sunflower Oil was the most popular export product from Ukraine before the full-scale invasion of the Russian Federation. Ukrainian Sunflower Oil made up 31% of the global market. Exports have drastically fallen, which is already evident in domestic and international markets, due to the difficulty of logistical routes and other war-related concerns.

In Ukraine, there is a tendency to decrease the cultivated area; accordingly, this will cause a reduction in Sunflower Oil production and may provoke a shortage and a rapid increase in the prices, which will affect everyone worldwide. Mykola Solsky, the Ukrainian Minister of Agrarian Policy and Food, spoke at the thematic panel for satisfying global Sunflower Oil demand within the framework of the G-20 conference. The panel would further discuss the sustainable growth of vegetable oils.

"Considering the current difficulties with transporting, Ukraine has begun selling sunflower seeds, one of the primary inputs into the manufacture of Sunflower Oil. Over the course of the grain corridor's operation, 0.5 million tonnes were exported. However, given the current economic climate, the country sees a major decline in export earnings and domestic processing levels," according to the Minister of Ukraine.

"Both the future of many people and the security of the world's food supply are uncertain. What is certain is that the occupiers will continue to destabilize the world as long as the global food crisis continues to intensify. However, joining in, forces with domestic partners can prevent this from happening. Ukraine can stop the rise in Sunflower Oil prices and save the most valuable thing – people's lives," the Minister said. At the framework of the G-20 conference on the global development of sustainable vegetable oils, the Ukrainian side once again called on all countries to strongly condemn Russian aggression at all levels should insist that Russia cease playing food games and fulfil its promises.

As per the ChemAnalyst database, it is anticipated that despite everything, Ukraine is still prepared to be one of the global providers of food security, including Sunflower Oil and other vegetable oils. In addition to meeting domestic needs, it can also meet international needs.

24X7

Track Real Time Prices

Related News

Russia and Ukraine Extend Their Grain Agreement, Benefiting Food Prices Globally
  • 24-Nov-2022 2:02 PM
  • Journalist: Patricia Jose Perez
Ukraine's Sunflower Oil Prices are Rising Amidst Sunflower Seeds Delayed Harvest
  • 03-Oct-2022 2:19 PM
  • Journalist: Harold Finch
Fluctuation in Sunflower Oil Price Disturbs the Global Market Sentiments
  • 05-Aug-2022 12:42 PM
  • Journalist: Jai Sen
Prolong Russia-Ukraine War Exacerbates Sunflower Oil Prices in Global Market
  • 09-Jun-2022 8:24 AM
  • Journalist: S. Jayavikraman