Elena Buturlim18:35, 02/10/24
Türkiye actively imports Ukrainian sunflower and also purchases finished oil.
Over the past few years, Turkey has been the main buyer of Russian-made sunflower oil, but in 2022, after the opening of the “grain agreement,” Ukraine began to actively export sunflower to the region, so the volume of sunflower oil production within the country increased, and the volume of its import decreased. The executive director of the Oil and Fat Union of the Russian Federation, Mikhail Maltsev, spoke about this, writes UkrAgroConsult.
“In addition, Turkey switched to importing oil from Ukraine, which was dumped on the market until the end of 2023. But still, Turkey remains in third place in terms of import volumes of oil and fat products from the Russian Federation,” the expert noted.
According to him, last year Ukraine began to more actively protect the processing sector, supplying less sunflower abroad. In Turkey, the harvest of this crop was reduced due to earthquakes and unfavorable weather conditions. Therefore, the country will buy more products abroad.
At the same time, at the end of 2023, Turkey reduced the purchase of sunflower oil from the Russian Federation by about a third, but remains a key market for Russian exporters.
“Turkey is the main buyer of sunflowers and sunflower oil in the Black Sea region. To cover domestic needs alone, it needs approximately 1.4 million tons of sunflower oil per year, in addition, approximately the same volumes of product are exported from the country,” the expert noted.
Ukrainian agricultural products
Ukraine has increased imports of agricultural products. In 2023, $7.1 billion worth of agricultural products were imported into Ukraine, which is almost 13% more than in 2022, when this figure amounted to $6.3 billion.
In addition, in 2023, the share of agri-food products in Ukraine’s total exports increased to 62% compared to 53% in 2022, traditionally maintaining leadership in its commodity structure and becoming the highest since the independence of our state.
(C)UNIAN 2024
Me thinks the EU should strengthen Ukraines agricultural industry by setting up a fund for modernizing the equipment. To provide cheap credits would help, too. Goal has to be to increase output with limited manpower and to take over Russian export markets. There can’t be any abundance of oil, surplusses can be used for biodiesel. And a growing economy will decrease Ukraine’s dependance on foreign support. That should be in the EU’s best interest!
I don’t like Turkey, except for Thanksgiving. 😁
Ugly birds. 🦃
Ha,ha,ha,ha!