At a meeting in Istanbul on July 13, the delegations of Ukraine, Russia, Turkey and the UN advanced talks on maritime export from Ukraine. After that, the UN confirmed that the countries intended to sign the agreement for a maritime corridor soon. For now, however, the problem for exporting sunflower oil should not be solved.

According to information from APK Inform, however, the market remains pessimistic about the release of ports and, if released, several questions have arisen about a possible delay in operations for the removal of grain from the country.

Sunflower oil is among the main products of the Ukrainian oilseed sector, which badly need the release of ports. Before the war, 96 to 97% of the total export of sunflower oil was transported by sea. Since the beginning of the war, the share of maritime transport (mainly through the ports of Reni and Izmail) has decreased to 42% amid the low operating capacity of the terminals.

Perspective on sunflower oil export

According to a preliminary estimate by APK Inform, in case of release of ports before the start of the new season, Ukraine will be able to export 4.6 million tons of sunflower oil in the 2022/23 commercial year (5% more than 2021/22, but the second lowest since 2015/16, after 2021/22).

Source: Canal Rural