The EU is the second biggest importer of Ukrainian sunflower oil, absorbing some 30% of its total exports.
Over the past five seasons, the EU’s need for sunflower oil increased from 1.4 MMT in MY 2015/16 to 2 MMT in MY 2019/20, with more than 90% coming from Ukraine.
As soon as this marketing year 2020/21, from October 2020, Ukrainian sunflower oil suppliers to the EU may face risks related to the level of chlorpyrifos-ethyl and chlorpyrifos-methyl residues in crude sunflower oil.
The position of Ukrainian sunflower oil exporters is aggravated by the present day situation in world markets, where new risk factors are appearing such as a slowdown in global economic growth, uncertainty, volatility, an expected decline in consumer demand, low prices and intensifying competition with Russia in key sales outlets, UkrAgroConsult reports.
To prevent farmer strikes, Argentina’s government has decided to raise export tariffs solely on certain agricultural products.