Ukraine successfully displaces Russia from yet another Turkish market
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Economics
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Ukraine successfully displaces Russia from yet another Turkish market

sunflower
Source:  online.ua

Ukraine began to actively export sunflower to Turkey. Against this background, the production volumes of sunflower oil within the country increased, while the import volumes decreased.

Russia is gradually losing Turkey as a sales market

What is important to understand is that Turkey has been the main buyer of Russian sunflower oil for the past few years.

However, 2 years ago, after the opening of the "grain agreement", Ukraine began to actively export sunflower seeds to the region.

This is stated by the executive director of the Oil and Fat Union of the Russian Federation Mykhailo Maltsev.

He also draws attention to the fact that Ankara switched to importing oil from Ukraine, which was dumping on the market until the end of 2023.

Despite this, Turkey remains in third place in terms of the volume of imports of oil and fat products from the Russian Federation.

Last year, Ukraine became more active in protecting the processing sector, supplying less sunflower abroad. In Turkey, the harvest of this crop was reduced due to earthquakes and adverse weather conditions. Therefore, the country will buy more products abroad, Maltsev said.

In addition, it is emphasized that Turkey has reduced the purchase of sunflower oil from the aggressor country by approximately 33%.

What is important to know about Ukrainian agricultural products

Our country manages to increase imports of agricultural products, even despite the full-scale war with Russia.

During the past year, agricultural products worth 7.1 billion dollars were imported into Ukraine, which is almost 13% more than in 2022, when this figure was 6.3 billion dollars.

In addition, in 2023, the share of agri-food products in the total export of Ukraine increased to 62% compared to 53% in 2022, traditionally maintaining leadership in its product structure and becoming the maximum since the independence of our state.

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