On June 27 Shanghai hosted the Sunflower oil&meal trade conference.
This conference is a platform for the presentation and further cooperation of companies of the sunflower, linen, canola and soybean oils market.
As It known, China is the world’s second largest importer of oil after India and orders about 1 million tons of this products. In September 2017 year Ministry of agrarian policy of Ukraine and AQSIQ (General Administration of quality supervision, inspection and quarantine of China) signed the sanitary and phytosanitary requirements protocols for export of sunflower meal and beet pulp from Ukraine to China. Ukrainian sunflower market interested China recently, however, the relationships almost immediately moved into a phase of active and large-scale cooperation. So over the past few months China, becoming a major buyer, almost doubled imports of Ukrainian oil in bottle.
During the conference, representatives of domestic oil refiners demonstrated their products and have signed agreements on cooperation with Chinese companies. According to the State Procurement Service, 17 out of 24 producers of sunflower meal obtained the right to export their goods to China.
Certainly, sunflower is one of the main oil crops in Ukraine. Our country remains a world leader in exports of sunflower processing products and provides more than half of the world’s exports of sunflower meal. So, in 2017/2018 MY 3.6 million tons of this product was delivered for export. As for the China specifically, according to the forecast of IA “APK-Inform”, in 2017/2018 MY Ukraine might export 150 thousand tons of sunflower meal in that direction. According to the USDA, internal necessity in sunflower meal in China in 2017/2018 MY is projected at the record level of 1 million tons, which is 14% above estimates of consumption in the previous season. According to the GFS of Ukraine, China has ranked among the top 10 importing countries of sunflower meal from Ukraine – in September-May 2017/2018 about 150 thousand tons of meal was shipped to this country.
Despite the huge difference in the volume of economy, China remains the center of attraction for Ukrainian exports. Market size of China and its growing domestic demand for goods and food are factors for the export activity of Ukrainian business and growth of our economy as a whole.
With kind regards, team of GC “Agroliga”.