(Sunflower Oil and Its Fraction, Whether or Not Refined, But not Chemically Modified, Excluding Crude)

Due to the conflict between Russia and Ukraine, imports of sunflower oil have been affected. Sunflower importers are searching other possibilities of importing from other sources to maintain supply and price. Due to the fact that Ukraine and Russia controls over 26% of the export market share, the market will definitely suffer a severe blow.

High demand of Sunflower oil across the globe can be attributed to healthy eating habits as many are turning away from the consumption of hydrogenated fats and towards the consumption of unsaturated fats. Notwithstanding, sunflower oil, is heavily used in the biofuel and cosmetic industry as well.

Ukraine is the largest supplier of Sunflower oil in Europe, and as the war limits Ukraine, end users have lowered the use of sunflower in the products and food manufacturers have switched to alternative vegetable oils like Rapeseed oil, palm oil, olive oil, and rice bran oil. Before, 200 thousand tons of sunflower oil was exported into Europe monthly, given the current situations, only 260 thousand tons of Sunflower oil was exported to Europe in 4 months (1).

Huge importers of sunflower oil like India got 70% of its sunflower oil import from Ukraine, 20% from Russia and 10% from Argentina. With the ongoing commotion between Russia and Ukraine different avenues are being explored and this is not the case only for India but with other countries like China(2). On the other hand, importing from Russia, will attract sanctions from the western nations, standing against Russia’s invasion of Ukraine.

How Current Conditions will Impact the global Import of Sunflower Oil.

Given the Russia Ukraine crisis, the industry suffered a huge shortage of sunflower oil globally. As mentioned earlier, given both nations stand as leading exporters of sunflower oil, the industry felt the impact of the crisis in prices, decrease in supply and consumers looking out for alternative vegetable oils to meet their needs.

Other sunflower exporting nations, used the absence of the two major exporters of sunflower oil as an opportunity acquire market share and meeting the demand. Huge exports were recorded from countries like Hungary, Turkey and Argentina.

The Top 10 Importers of Sunflower Oil as of 2021

As of 2021, the global value import for sunflower oil, (whether or not refined but not chemically modified and exclude crude) was at a $5.2 Billion with an annual growth in value between 2020 and 2021 of 22%. Below are the top 10 importers and value recorded;

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Ethiopia

Ethiopia maintains her spot as the leading importer of Sunflower oil with a share in world imports of 8.1% and an import value of over $419 million USD. Ethiopia imports over 412 thousand tons of sunflower oil with an annual growth in value between 2020 and 2021 of about 15%. In the year 2020, Ethiopia imported over 671 thousand tons of sunflower oil and recorded an import value of over $365 million USD and held 8.5% share of world import. As of 2021, Ethiopia’s import share dropped by a 0.4% but with an increase in import value. This can be attributed to the price increase of sunflower oil imported by Ethiopia.

Belgium

On the second spot is Belgium with a share in world imports of 6.4%, a 0.1% increase from previous year. Belgium imported over 232 thousand tons of sunflower oil with a market value of over $330 million USD with an annual growth value between 2020 and 2021 of 22%. In the year 2020, Belgium imported over 276 thousand tons with an import market value of over $272 million USD.

Uzbekistan

Uzbekistan comes up at the third sport with a value import of over $234 million with an import market share of 4.5%. Uzbekistan imports over 163 thousand tons of sunflower oil with an annual growth in value between 2020 and 2021 of 24%. In the previous year, Uzbekistan imported over 208 thousand tons of sunflower oil with an import market value of over $188 million USD and held 4.4% import market share.

Netherlands

The Netherlands is at fourth position with a market share for world imports of 3.6% and with an import value of over $189 million USD for importing over 139 thousand tons of sunflower oil. The Netherlands recorded an annual value growth between 2020 and 2021 of 30%. In the year 2020, the Nertherlands was at the 7^th spot of the top ten importers of sunflower oil with an import share of 3.3%, importing over 132 thousand tons of sunflower oil with an import value of over $140 million USD.

United Kingdom

In the fifth position is the United Kingdom with a market share of 3.6%, importing over 130 thousand tons of sunflower oil with an import value of over $186 million USD. The United Kingdom recorded a 17% annual value growth between 2020 and 2021. In 2020, the United Kingdom imported over 162 thousand tons of sunflower oil with an import value of over $157 and held a market share of 3.7%.

France

France is the sixth leading importer of refined sunflower oil, not chemically modified and excluding crude. France recorded an import value of over $181 million USD for importing over 116 thousand tons with a market share of 3.5%. Between 2020 and 2021, France experienced an import value growth of 37%. In the previous year, 2020, France held a 3% import market share and imported over 115 thousand tons of sunflower oil with an import market value of over $130 million USD.

Poland

At the seventh spot is Poland with an import market value of over $164 million USD and imported over 112 thousand tons of sunflower oil with an import share value of 3.1%. Poland recorded an annual import growth value of 25% between 2020 and 2021. In the previous year, 2020, Poland controlled an import market share of 3.1% and imported over 132 thousand tons of  sunflower oil, with a market value of over $131 million USD.

Djibouti

Djibouti is at the 8^th position with an import market share of 3%, importing over 103 thousand tons of sunflower oil with an import market value of over $157 million USD. Djibouti recorded a -18% decrease in annual growth in value between 2020 and 2021. In 2020, Djibouti was the 3^rd leading importer of sunflower oil and controlled over 4.4%, importing over 199 thousand tons of sunflower oil with an import value of over $186 million USD.

Germany

In the 9^th spot is Germany with an import value of over $156 million USD, with an import share value of 3% and imports over 106 tons of sunflower oil. Germany recorded an 8% growth in annual value between 2020 and 2021. In the year 2020, Germany controlled 3.3% of the import market share with an import value of over $143 million and imported over 125 thousand tons of sunflower oil.

United States of America

The US came in at the tenth position with an import market share of 2.9% importing over 83 thousand tons of sunflower oil with an import market value of $151 million USD. The US experience a -6% decrease in growth of value imported between 2020 and 2021. In the 2020-year period, the US held a 3.7% of the share of global import with an import value of over $161 million USD and imported over 111 tons of sunflower oil.

As seen from the above analysis, Djibouti and the US recorded a decrease in their annual value growth between 2020 and 2021 of -18% and -6% respectively. This can either be due to a reduction in unit price per ton imported or a decreased in quantity imported. Also, a positive trade balance of over $128 million USD was recorded which indicates more is being exported than imported as is the case of the Netherlands ($93.27 million USD), France ($151.894 million USD) and Germany ($104.335 million USD). Compared to the previous year of 2020 with a total trade balance of $32 million USD indicates these importing countries are investing in the production of Sunflower oil.