ViOil Company has signed a cooperative agreement with the Chinese corporation COFCO International, which is China’s major producer, processor and trader of agricultural products. The agreement was signed during an export-import exhibition in Shanghai.
ViOil is one of Ukraine’s top three vegoil producers and the biggest maker of rape oil. It exports its products to more than 60 countries of the world.
This season, the company’s plants have produced more than 33 KMT of rape oil from some 76 KMT of rapeseed that is 2.2 times more than last year. Over half this rape oil was exported to China. The remainder went to European buyers, who are still key importers of rape meal as well.
In addition, ViOil is planning to process 100 KMT of soybeans in the 2018/19 season, using the multi-seed feature of the Vinnytsia oil extraction plant capable of crushing 1100 MT of soybeans a day. It is planned to start soybean crushing in December 2018. Active purchase of the feedstock is under way now. The company’s second plant will continue processing sunflower seed.
The company is confident that there will be no problems with marketing of soybean products. ViOil exports soybean meal and oil mostly to the EU, Belarus and Southeast Asia.
In the current 2018/19 season, the Ukrainian rapeseed market’s export potential has neared the record