News
02.07.2018
China is a new player in the global market of sunflower meal
In 2017-18, China significantly increased the volume of sunflower meal imports after the Ministry of Agriculture of the country signed sanitary and phytosanitary protocols and requirements for quality characteristics of imported sunflower meal from Russia and Ukraine. It is forecasted that in 2017-18, China will import about 150 thous. tons of meal. According to analysts of the Middle Kingdom, this tendency will continue in the coming years due to the rapidly growing demand for protein foods.
Ukraine, the EU and Russia are the key world producers of sunflower meal for several years. At the same time, Ukraine is the leader among the main exporters of sunflower meal and covers 38% of the world demand for this product. Currently, the EU and Turkey are the main consumers of sunflower oil on the world market. However, given the growing demand for this product from China, the situation may change substantially in the coming years.
Data: USDA
Olga Kharabara, analyst of agricultural markets of the Association “Ukrainian Agribusiness Club” notes that this season the cost of sunflower meal has increased significantly. Growing demand from the importing countries was one of the key drivers for growth. As of June 20, 2018, the prices of demand-offer for sunflower meal on the terms of FOB Black Sea ports amounted to 260-270 USD/ton, depending on its quality characteristics. Whereas, as of the same period last year, sunflower meal cost within the range of 165-175 USD/ton.
Recall that according the State Fiscal Service of Ukraine, China entered the top 10 countries of sunflower meal importers from Ukraine - in September-May 2017/2018 the country imported 130 thous. tons of meal.
