December 3 2002, 10:18 Interfax-Ukraine

Ukraine increased exports of sunflower oil in October almost 70 pc on a year

According to news agency Interfax-Ukraina, Ukrainian companies exported in October 85,320 tonnes of sunflower oil for the total worth of $46.7 million - up 69 percent from October 2001 and 2.3 times more than in September this year.

Since the beginning of marketing year (MY - September to August) exports of oil have increased by 82.5 percent compared with the same period last year and reached 122,100 tonnes for the total value of $69 million.

Specialists explain the lively exports of sunoil in this MY by a beneficial price in the world market and a high demand from world importers.

According to forecasts, oil exports from the country in 2002/03 MY will increase by 40.5 percent compared to the previous season and will reach 550,000 to 600,000 tonnes.

In 2001/02 MY Ukraine exported 427,000 tonnes of the product for the total worth of $246 million - 28 percent down from the previous season.

There are 26 large oil-crushing enterprises and a big number of minor oil crushing shops in Ukraine.

In 2002/02 MY Ukraine produced about 864,000 tonnes of sunflower oil.

Ukraine's vegetable oil is exported to 27 countries. The main importers are Russia, Belarus, India, Egypt, France, Turkey, Kazakhstan and the Netherlands.

Demand of Ukraine's domestic market in sunoil is estimated at 450,000 tonnes a year.