Ukrainian Sunflower Oilcake Suppliers Enjoy Surging Demand in China
IndexBox has just published a new report: ‘China – Sunflower Oilcake – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.
Over the last year, China increased its sunflower oilcake imports from 1.4M tonnes to 2.2M tonnes. In value terms, the imports skyrocketed by +51.3% y-o-y to $588M. Ukraine dominates Chinese sunflower oilcake imports, with a 97%-share of the total volume. The supplies from Ukraine gained $170M last year. The average sunflower oilcake import price in China fell by -3.5% y-o-y to $269 per tonne in 2020.
Chinese Sunflower Oilcake Imports by Country
In 2020, approx. 2.2M tonnes of sunflower oilcake were imported into China, picking up by +51% against 2019. In value terms, sunflower oilcake imports surged by +51.3% y-o-y to $588M (IndexBox estimates) in 2020.
In 2020, Ukraine (2.1M tonnes) was China’s main sunflower oilcake supplier, accounting for a 97% share of total imports. It was followed by Bulgaria (50K tonnes), with a 2.3% share of total imports.
In value terms, Ukraine ($571M) constituted the largest supplier of sunflower oilcake to China, comprising 97% of total imports. The second position in the ranking was occupied by Bulgaria ($13M), with a 2.2% share of total imports. In 2020, the average annual rate of growth in terms of value from Ukraine totalled +42.2%.
In 2020, the average sunflower oilcake import price amounted to $269 per tonne, reducing by -3.5% against the previous year. Average prices varied noticeably amongst the major supplying countries. In 2020, the country with the highest price was Ukraine ($270 per tonne), while the price for Bulgaria amounted to $262 per tonne. In 2020, the most notable rate of growth in terms of prices was attained by Bulgaria.
Source: IndexBox Platform
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