May 20, 2022
Could Croatian sunflower exports be the next profitable thing for this country, with the crisis in Ukraine still ongoing and prices for some of the most unusual products on the rise? Some people think so.
Due to the ongoing war in Ukraine following Russia’s invasion in February this year, there has been a great deal of disruption, uncertainty, and supply shortages, as well as a significant increase in prices for sunflowers, sunflower products, and especially sunflower oil on the global market. Of course, the production of these products in Ukraine and Russia was severely harmed, and their exports still dominate the global market.
Based on the high concentration of production and the normal exporting of sunflower oil from both Ukraine and Russia, the most significant disruptions on the worldwide market in the next term will be in the supply and demand of sunflower products such as the widely used oil. Any future forecasting of market price movements and supply will be based on Ukraine’s ability to supply sunflower oil and grain this season, as well as the war’s progress and logistical challenges for delivering commodities to the rest of Europe.
Sunflower seed agriculture is mostly concentrated in Ukraine’s steppe and forest-steppe zones, which are found in the country’s central and eastern provinces. Dnepropetrovsk, Kirovograd, Kharkov, Zaporozhye, Nikolaev, Lugansk, Odessa, and Poltava are the key production districts, accounting for 62 percent of the country’s total sown area. Because of the export market orientation, the majority of Ukrainian sunflower processing and sunflower oil producing plants are located near Black Sea ports for logistical convenience. The escalating fighting has clearly put the most major production basins and the prospect of delivery in jeopardy.
Source: Total Croatia News
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