Ukraine will collect at least 1 million tons of high oleic sunflower
In 2020, the acreage of high oleic sunflower in Ukraine increased. The high premiums of the previous season (MY 2019/20) were a key factor for the expansion of acreage.
In addition, stable demand from importers for high oleic sunflower oil supported the interest of farmers.
However, the sharp drop in the premium from 550 UAH / ton to virtually zero was a huge disappointment for the 2020/21 season. Nevertheless, 426 thousand tons of high oleic sunflower oil were exported to more than 50 countries of the world. Among the key importers, China and Malaysia increased their purchases, while the EU countries significantly reduced them.
With regard to the prospects for 2021/22, the area under high oleic sunflower is expected to decrease by 10%. Nevertheless, the increase in yields will compensate for the reduction in acreage and the harvest may be at least 1 million tons. By the beginning of 2021/22 MG, the premium for high oleic sunflower was 500-550 UAH / ton, according to analysts of UkrAgroConsult.
As previously mentioned, Europe is the largest buyer of Ukrainian vegetable oil