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Sunflower oil is one of the most consumed foods in the world.
It is known that the oil helps to improve the functioning of the heart and blood vessels, reduce cholesterol levels, improve brain function and normalize the functioning of the gastrointestinal tract. In addition, this product has an excellent effect on skin tone, preventing premature aging and normalizing the endocrine system.
First cold-pressed sunflower oil contains a large amount of useful vitamins, and therefore it is more often than others added to food products and used in cooking. The EU countries are actively purchasing this product, especially given the fact that local production in these countries cannot boast of productivity.
Supply and demand for sunflower oil from 2015-2020
According to statistics, crude unrefined oil continues to be in high demand. The export volumes of this product remain at the level of 50-55%, or 11.1 million tons. Most importing countries make large purchases of this product before the start of the season, and therefore producers should monitor the cost in key export centers. True, the price for this product continues to remain at a high level, therefore it makes sense to continue the supply of sunflower oil in the coming seasons.
The main buyer of this type of oil is China, which does not have its own sown areas. Europe, however, not only remains among the leaders in the buyers of this product, but also shows good rates of production. Nevertheless, Ukraine, Russia and Argentina remain the leaders of exporters.
As for consumption, apart from China, Iran, India, Egypt and Iraq, as well as some European countries, are steadily showing interest in this product.
Global production of all oilseeds is projected to grow by 6 million tonnes in 2021, driven by a recovery in palm oil production and an increase in soybean yields. In addition, the consumption of all types of oils will grow by 3 million tons, so it makes sense for agricultural companies to continue growing sunflower and producing oils from it.
Dynamics of prices for sunflower oil from 2015 to 2020
Against the background of continued demand for this product, the price of sunflower oil continues to grow. So from 2015 to 2020, the price for this product increased from $ 40 per ton to $ 120 per ton. It should be noted that the cost of sunflower oil directly depends on oil price quotations, respectively, the lower the oil price – the cheaper the oil costs. Despite this, producers continue to grow sunflowers with subsequent processing for oil, since the demand for this product is quite stable. The closest importers of this product for Ukraine are the EU countries, and in order for supplies to Europe to be regular, manufacturers are advised to comply with all trade specifics. In particular, when selling, you must provide all the required documents, a list of which can be found on the website of the Customs Union. In addition, it is important to follow the technology of growing sunflower so that the final product meets the food safety requirements adopted in Europe.