According to preliminary forecasts by the state analytical agency, the sunflower sowing area in Ukraine in 2021 will slightly increase in comparison to the last year's level (on 4-6%) and will amount to about 6.8-6.9 million hectares.
This indicator may become a record in the entire history of oilseed production in Ukraine, although the current rates of oilseed sowing are significantly inferior to the last year’s. This will be facilitated by a number of factors:
- A record level of prices;
- High commodity liquidity;
- Good profitability of production.
In case of optimal weather conditions and a yield close to the average, the gross sunflower harvest in 2021 can reach a record 16.4 million tons against 14.3 million tons a year earlier. If it happens, 6.55-6.6 million tons of oil is planned to be exported.
At the end of 2020, the production of vegetable oils amounted to 6.13 million tons. According to preliminary estimates, 5.61 million tons were exported, of which 5.28 million tons was sunflower oil.
Due to introducing floating duties on Russian oil, discussion of restrictions on exports of Ukrainian products, the global demand for Ukrainian sunflower oil in the new season may grow significantly. At the same time, any restrictions on the export of sunflower oil from Ukraine, which is a key supplier of this product to the world market, will serve as a strong impetus to an increase in prices in the world arena for both oil and sunflower seeds.
