Port Blockade Halves Ukrainian Oil Exports

This was reported by Stepan Kapshuk, Director General of the Ukroliyaprom Association, in a comment to NV Business.

«In August, sunflower oil exports amount to 5,000–7,000 tonnes per day, with an additional 2,000–3,000 tonnes of rapeseed and soybean oil. In total, around 8,000 tonnes can be exported per day, or up to 300,000 tonnes per month. This is half the volume recorded before maritime exports were suspended,» he clarified.

According to the expert, difficulties with exporting finished oil products have become the key reason for the sharp decline in purchase prices for sunflower seeds. The market is currently experiencing difficulties with product deliveries, as well as a significant shortage of transport and storage facilities. However, the head of the association expects these logistical obstacles to be resolved within two to three weeks.

In addition, Kapshuk stressed that, by the end of the year, oil production in Ukraine could reach 7 million tonnes. Since the domestic market requires only around 300,000 tonnes of these products, there is no threat of a domestic shortage or reason for concern among the public.

«There will be no shortage; there is no reason for people to panic,» the head of the Ukroliyaprom Association concluded.