August witnessed a significant decline in Ukraine's sunflower processing activities, with volumes falling 43% month-over-month to the lowest level seen at the onset of the 2023/24 season and during the preceding three years. Sources report that this stark downturn underscores challenges within the agricultural sector. Although there was a slight uptick in rapeseed crushing, the activity remains below anticipated levels due to persistently low-profit margins.
The export dynamics present a mixed outlook. According to the latest data from the Ministry of Economy, there was a 25% weekly increase in sunflower oil exports. Yet, the total August figures were dismally low at 226,891 tonnes—the smallest quantity recorded this season. Despite a late-month surge in export applications for sunflower oil, fueled by scant domestic supplies, the overall export volume declined.
For the week ending September 4, exports of oilseeds and sunflower meal decreased, contrasting with an increase in sunflower oil export applications. However, early indicators for September suggest a potential continued slump, with sunflower oil exports reaching critically low levels.
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