Turkey plays quite an important role in the regional market of sunflower oil, being both one of the key importers and exporters of sunflower oil.
Annually Turkey purchases about 600-800 KMT of sunflower oil, and about the same volume of sunflower seed. The country produces refined oil, which is partially consumed by 75 million population of Turkey, and some part of bottled sunflower oil is exported to neighboring countries.
Ukraine and Russia are the major suppliers of sunflower oil to Turkey. It should be noted that in recent years the share of Ukraine in the Turkish market has been declining in favor of Russia, mainly due to lower prices for Russian oil (USD 10-15/MT lower than Ukrainian), and secondly, because of Ukraine’s refocusing to other larger markets of India and China.
Given the rich harvest of sunflower seed in season 2015/16, Ukraine can easily cover sunoil requirements of Turkey without any significant reduction of supplies to other countries, and regain lost ground in the Turkish market.
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