November 28, 2017 / 6:55 AM / in a year

Ukraine 2017/18 sunoil exports seen down 4 pct

KIEV, Nov 28 (Reuters) - Ukrainian sunflower oil exportable surplus is likely to decrease 4 percent to 5.58 million tonnes in the 2017/18 season due to a smaller sunflower harvest, analyst UkrAgroConsult said on Tuesday.

Ukraine has almost completed the 2017 sunseed harvest, threshing 11.9 million tonnes, compared with 13.3 million tonnes in 2016. The yield averaged 2.01 tonne per hectare this year against 2.27 tonne a year earlier.

The consultancy, however, said that sunoil exports in the first two months of the current season featured a new record of 850,000 tonnes versus 710,000 tonnes a year ago.

UkrAgroConsult said 334,000 tonnes were exported to India against 206,000 tonnes in September-October 2016, and Ukrainian market share expanded by 10 percentage points to 39.4 percent.

India is a key market for Ukrainian sunoil, absorbing around a third of the country’s overall exports. The EU share is around 29 percent, while 10 percent of Ukrainian sunoil exports is headed to China.

Earlier this month, India doubled sunoil import duties, but UkrAgroConsult said Ukrainian sunoil exporters could feel quite confident in the 2017/18 season because India has forecast 2017/18 sunoil imports at 15.5 million tonnes.

India imported 15 million tonnes of sunoil in 2016/17. (Reporting by Pavel Polityuk; Editing by Biju Dwarakanath)

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