: More than half of world's sunflower oil supply comes from Ukraine

17:52 May. 13, 2016

More than half of world's sunflower oil supply comes from Ukraine

A sunflower field in Ukraine's Kherson region (UNIAN photo)

U.S. Agriculture Department lists India and China as top importers

According to an official report released by the U.S. Department of Agriculture, Ukraine's share in the sunflower oil trade in the current 2015-2016 marketing year is expected to reach 54 percent, which is over 4 million tons of sunflower oil.

Watch also Opinion: Ukraine is a very good place for Europe to expand its need for agricultural products'

In 2016-2017 marketing year, Ukraine is forecasted to keep its lead. Officials estimate the country will increase production and increase Ukraine's portion of the global sunflower oil trade to least 56 percent (4.5 million tons)

This year Ukraine will produce nearly be 4.7 million tons, and in the future marketing year, it is set to produce 5.0 million tons of sunflower oil - the report further explains.

Read also IFC ready to invest 200 mln in Ukraine's agriculture in 2016

Ukraine has been showing high index numbers of sunflower oil production for the past decade. In 2005, Ukraine produced 2 million tons of oil boosting this number to 4,7 million in 2013. The following years showed a little decrease, however, not affecting current leading role in the world export.

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