EU vegetable oil imports down 38%
Heavy rains in Ukraine and the U.S. are delaying wheat harvests and affecting quality, halting price declines despite weak global demand. Ukrainian wheat prices dropped after speculative rises but stabilized as export volumes fell. U.S. wheat exports slowed, while EU production forecasts were reduced. Global wheat prices may remain steady until mid-August.
From the beginning of the current season (July 1, 2024) to July 27, EU countries imported 267.8 tons of vegetable oils, which is 38% less than in the same period last season. This was reported by the Zerno On-Line agency with reference to the European Commission.
Sunflower oil imports for four weeks of the current season amounted to 141.5 thousand tons (-18% compared to last season), palm oil – 118.9 thousand tons (-53%), soybean oil – 37.8 thousand tons (+ 140%).
Sunflower oil and soybean oil are imported in the current season mainly from Ukraine (168.2 thousand tons and 25.2 thousand tons), palm oil – from Indonesia (39.7 thousand tons) and Malaysia (30.1 thousand tons).
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Source : Ukr Agro Consult
