KIEV: During seven months of the current season 2015/16 (September-March) Ukrainian palm oil imports are ahead of the last season’s purchases by 24.3%. However, since season 2011/12, reduction of palm oil imports by Ukraine has been observed compared with previous period. Imports ranged 150-170 KMT, and only season 2012/13 was an exception (288.8 KMT). Decrease in domestic palm oil consumption and processing was the main reason of the current situation development.
Malaysia and Indonesia remained the main suppliers of palm oil to Ukraine in the current season with a share at 66.6% and 27% of total (125.6 KMT), respectively. Global trends, as well as domestic needs will influence palm oil imports to Ukraine during the next 2016/17 season. According to latest USDA WASDE report, palm oil production will increase by 6% next season.
Palm oil supply of world major exporters (Malaysia and Indonesia) will also grow. But the fact that since May 01, 2016 Indonesia introduced export duty on palm oil in the amount of 3% and additional export fee at USD 50/MT may have significant influence on Ukrainian palm oil imports.
