EU countries in 4-6 weeks will face a deficiency of unrefined sunflower oil caused by the forced stop of its exports from Ukraine, which in turn will cause a deficiency of refined and bottled oil for European households. This is stated in the report of the European Association of Manufacturers and Processors of Vegetable Oil and Fat Fediol, excerpts from which interfax leads.
“Available reserves in the EU are approximately depleted on time from four to six weeks. After this period, it is likely that the lack of accessibility of unrefined sunflower oil and limited alternatives will lead to a deficiency of refined / bottled sunflower oil in the European market and that this deficiency will spread. on the level of retail consumption, “- noted in the report.
According to Fediol, European oil extraction plants receive 35-45% of raw materials for the production of sunflower oil from Ukraine, the export of which is currently terminated due to hostilities. The organization stressed that it is impossible to replace Ukrainian raw materials in the industry in a short time. Also, other players in the global market are also faced with a similar supply deficit.
According to the Association, it is unclear how and when the supply of raw materials from Ukraine will be able to resume.