Ukraine war could lead to sunflower oil needs in Europe

sunflower oil needs in Europe

Countries in the European Union (EU) will face a shortage of unrefined sunflower oil in four to six weeks as exports from Ukraine have been halted. As a result, Europe could also face a wider shortage of cooking oil.

According to the European oil association FEDIOL, European oil mills source 35-40 percent of their raw material from Ukraine. However, due to the military action, Ukrainian exports have now stopped. The organization believes that it is impossible to replace Ukrainian raw materials in the industry in the short term.

The EU's available supplies are estimated to run out within four to six weeks. After this period, the lack of availability of unrefined sunflower oil will likely lead to a shortage of refined sunflower oil on the European market and this shortage will spill over into retail sales, FEDIOL said.

According to FEDIOL, it is not clear when Ukraine will resume supplies of the raw material.

Alternative vegetable oils such as rapeseed, soybean, or palm oil may alleviate the shortage on the EU market.
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