Significant Decline in Exports

In the first half of 2024, sunflower oil exports from the Republic of Moldova fell by 68.3 thousand tons, marking a 45% decrease compared to the same period last year. In the 2023/2024 season, exports amounted to 191.7 thousand tons, 16.6% lower than the previous period.

Sharp Drop in Recent Sales

From April to June this year, only 4.6 thousand tons were sold, which is twelve times less than the same period last year. The sale price also did not provide support; in 2024, the price was 0.77 euros per kilogram compared to 0.91 euros per kilogram in 2023.

Factors Affecting Exports

Challenges in raw material supply and a downward trend in global prices significantly impacted Moldova's sunflower oil exports in 2024. Additionally, there were changes in export destinations. In 2023, Romania was the leading importer with 196.4 thousand tons, but in January-June 2024, Egypt became the top importer with 19.1 thousand tons.

Key Markets and Prices

A significant portion of Moldova's oil was exported to Spain (12 thousand tons) and Italy (6 thousand tons). The most profitable contracts were signed with Egypt at 0.77 euros per kilogram. For comparison, the prices were 0.75 euros per kilogram in Spain and 0.76 euros per kilogram in Romania.

The sharp decline in Moldova's sunflower oil exports underscores the volatility in the global market and the challenges faced by producers. Strategic adjustments and improved supply chain management will be crucial for stabilizing the export levels and ensuring profitability amidst fluctuating market conditions.