In the season-2016/2017 the production of sunflower oil in Ukraine will increase to 5.36 million tons, against 4.78 million tons in the previous year, due to significant increasing of sunflower seed production in the country. As a result, the key country-exporter of sunflower oil in the world will increase its shipments by 0.55 million tons per year, to 4.85 million tons.
As for Russia, the country will also increase production of the product to 3.89 million tons (3.85 million tons), resulting in the growth of export volumes on the global market by 30 thousand tons only, to 1.33 million tons.
It is worth noting that the growth of sunflower oil production in the key countries can put some pressure on prices formation on the global market. However, the prospect of another reduction in the supply of rapeseed oil in the world, which will cause reorientation of many importers towards purchasing of sunflower by-products, will in turn provide some support to the prices. (APK-Inform/Business World Magazine)
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