Profit From the Export of Fat and Oil Products in Ukraine Increased by 15%

In the first 7 months of 2021, the foreign trade of food and agricultural products in Ukraine increased by 10% compared to the same period in 2020. The total amount was $ 16.7 billion. This was reported by the press service of UkrOilProm.

The export of fat and oil products played a significant role in this. The press service of UkrOilProm reports that export profit increased by 7% compared to 2020 andamounted to $ 12.5 billion  in absolute terms. During this period, goods worth $ 4.2 billion were imported to Ukraine, which is 19% more than in the same period last year. Thus, the balance amounted to +8.3 billion dollars.

The share of fat and oil products amounted to 29.4% of the total exports of the agro-industrial complex and 6.7% of the total share of exports. The amount of imports of fat and oil products to Ukraine in the first 7 months of 2021 amounted to 0.21 billion, which amounted to 5% in the structure of imports of the agro-industrial complex. The largest share in imports falls on tropical oils – coconut, palm and others, it exceeded 75%. Margarine products and special-purpose fats account for over 20%.

The main importers of Ukrainian sunflower oil are the EU, with a share of 29.6%, and India with 27.2%. The third place is taken by China – 16.4%, in the fourth place, there is Iraq  with 7.7%. The rest of the market participants together account for 19% of exports.