European Union Sees Significant Drop in Sunflower Oil Exports Amid Global Market Shifts

Between July 1 and October 22, 2024, the European Union’s sunflower oil exports decreased by 16% compared to the same period last season, totaling 210,500 tons. This data, reported by Zerno On-Line and attributed to the European Commission, reflects a broader shift in the global vegetable oil market.

Top Buyers of EU Sunflower Oil

Despite the decline, several key markets continue to drive demand for EU sunflower oil. The largest importers this season include:

• India: 52,800 tons
• United Kingdom: 42,300 tons
• United States:14,900 tons
• South Africa: 12,600 tons

These countries remain significant buyers, but overall demand has softened, contributing to the decline in exports.

EU Sunflower Oil Imports Also Decrease

In addition to the drop in exports, the EU’s sunflower oil imports also saw a sharp decline. Compared to the same period last year, imports fell by 18%, reaching 588,800 tons. This decline in both imports and exports suggests changing dynamics in the global sunflower oil market, potentially influenced by shifting demand patterns and competitive pressures from other vegetable oils.

Outlook: What’s Next for EU Sunflower Oil?

As global vegetable oil markets face ongoing volatility, the EU’s sunflower oil trade will likely continue to be affected by shifting supply and demand. With India and the UK leading as key buyers, future export levels will depend on global demand and production trends in competing oil markets.





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