1/ Marketing year statistics are based on months October through September. Rapeseeds Marketing Year starts at July 1 with the annual statistics following the pattern of a marketing year for oilseeds and products.
2/ Preliminary data

*Forecast

In April exports of sunflower seeds kept rolling down as stocks available for exports in country remained scarce and quality becomes inferior. Thus, demand from foreign buyers shrinks as well. At the same time, negative influence on export sales made frozen VAT refunding to most of the traders. Exports of sunflower seeds dropped from 85.4 ths. t in March down to 61.1 ths. t in April. At the same time, oilseed products export trading remained high. Thus, export statistics in April shows that Ukrainian companies exported 102.8 ths. t of sunflower oil and 97.9 ths. t of sunflower meal (a month ago – 105.1 and 101.8 ths. t, respectively).

Offers for commercial sunflower seeds CPT Black Sea ports during the period in review appreciated in general. Thus, in early April one could buy CPT @$268-281/t but in late April offers equaled $287-291/t CPT Black Sea ports.

On the export market of sunflower oil during April offers ranged (April –May deliveries) $620-640/t CPT port (or $630-645/t DAF Ukraine), by the end of the month prices ranged $620-630/t CPT Black Sea ports (or $630-635/t DAF Ukraine).

On the cash market of sunflower meal prices remained stable throughout the month: DAF offers ranged $ 145-147/t DAF Ukrainian/Belarusian border or $146-148/t DAF Hungarian border, offers in the Black Sea ports CPT ranged $135-138/t.

Compared to March export prices for oilseeds increased sharply for rapeseeds, appreciated somewhat for sunflower seeds and meal while sunflower oil prices depreciated by $10/t approximately.

In April 2004 Ukraine exported the following of which:

• 994 t of rapeseeds (a month ago - 3.3 ths. t) averagely priced $285.1/t (a month ago - $255.04/t) using the average export delivery basis CPT/FOB/DAF Ukraine ;
• 61.1 ths. t of sunflower seeds (85.4 ths. t) priced @$293.76/t ($290.62/t);
• 102.8 ths. t of sunflower oil (105.1 ths. t) priced @$595.91/t ($605.47/t);
• 97.9 ths. t of sunflower meal (101.8 ths. t) priced @$135.23/t ($130.58/t).

The key export direction for commercial sunflower seeds in April was southern Europe (Italy and Portugal). Ukrainian oilseeds keep going to Near East and Georgia. Recall that the latter has no crushing capacities to consume that sunflower seeds from Ukraine which makes us believe that this commodity will be reshipped to Middle East thus avoiding the export duty payment as Ukraine has a FTA with Georgia. In April a vessel was shipped to Morocco. Small volumes of sunflower seeds went by rail to Eastern Europe and FSU.

The key directions of Ukrainian sunflower oil exports in April were Iran and Russia, which during the month in review purchased 35 and 20 ths. t, respectively. The commodity was actively shipped to North Africa and southern Europe.

Exports of sunflower meal to Poland and the Baltic States increased. Moreover, in April Middle East (Turkey and Israel) actually received above 30 ths. t of meal plus 15 ths. t - went to European south (Italy). Shipments to Belarus revived a little bit.

Cumulatively since the beginning of the season (October– April) exports made up 859.9 ths. t of sunflower seeds, 612.7 ths. t of sunflower oil and 686.4 ths. t of sunflower meal.

During the 10 months of the season (July-April) exports made up 32.7 ths. t of rapeseeds of which 1 ths. t during March. Exports of rapeseeds oil during the current season are stagnant (during the first half of the season exports added up to 150 t).

We expect a further decline of sunflower seeds exports in May – up to 25 ths. t or less. Export deliveries of sunflower oil during May are forecast at some 70 ths. t, and sunflower meal – 110 ths. t. and sunflower meal Moreover, decline in monthly exports of sunflower oil will be more visible than those of meal.

Our current export forecasts of sunflower seeds and products during 2003/04 MY (seasonal): sunflower seeds - 925 ths. t (reviewed upwards by 25 ths. t), sunflower oil - 925 ths. t (reviewed upwards by 25 ths. t), sunflower meal - 1025 ths. t (reviewed upwards by 75 ths. t).

Marketing season for rapeseeds is about over with carryover close to zero however, we still saw exports in April. These were those volumes accumulated back in 2003 and were stored for a better buyer. During the month in review (April) exports were slightly less than 1 ths. t of rapeseeds (a month ago – 3.3 ths. t). During 10 months of the season (July-April) exports added up to 32.7 ths. t of the commodity in review.

The average export price for rapeseeds increased considerably over March and equaled $285.10/t (a month ago - $255.05/t) СРТ/FOB/DAF Ukraine.

The largest foreign buyer of rapeseeds remained the same WJ Grain Ltd, which took care of 90% of April rapeseeds exports.

Trucks and railcars of rapeseeds went to Germany for Agrar-Betrieb Berthold Wild and Poland for Wibar.

Small volumes of rapeseeds may go by rail until the end of the season. Massive rapeseeds exports we can expect no sooner than new crop arrival.

Export of rapeseeds oil has been stagnant.

In April Ukraine exported 61.1 ths. t of sunflower seeds totally worth $24.8 mill. (a month ago – 85.4 ths. t worth $24.8 mill.).

Compared to March contract prices for exported sunflower seeds in April grew a little bit in general which went in line with the world market trend. The average export price for sunflower seeds equaled $293.75/t (in March - $290.60/t) CPT/FOB/DAF Ukraine.

Offers of sunflower seeds got stronger in general. In early April sunflower seeds were offered @$268-281/t CPT Black Sea ports and by the end of the month the same terms were offered as high as $287-291/t CPT Black Sea ports.

Actually, the most popular directions for exports of Ukrainian sunflower seeds in April were Portugal and Italy (European South), which according to our information in April received cumulatively some 55-60 ths. t. Part of the shipped volumes were declared in March however, those volumes declared to Hungary in fact went to other countries.

Shipments to Turkey declined showing in April only 8 ths. t of the commodity (previous 2 months – on the average 30 ths. t a month).

Like a month ago, exports to Georgia were registered (12 ths. t in April, 6.3 ths. t in March). However, like we have already mentioned those sunflower seeds shipped to Georgia will be further delivered to Middle East.

Small volumes of sunflower seeds were exported to FSU, Poland and Bulgaria.

In April the leading sunflower seeds exporter was Mykolayiv based concern "Prometey" shipping to both Portugal and Turkey.

The March leader Kyiv based "AgroTex", switched to deliveries for Italy (a month ago shipments were performed towards: Spain and Turkey).

Behind a shipment to Morocco stood "Cargill".

Dniprovska Trade and Industrial Association, GRK, Outtrade, Strong Kryvbas, Forward, made deliveries via Georgia.

A number of companies sold via WJ Grain Ltd (in such a case exports were declared to Hungary however real deliveries were made to Italy and Portugal). Those include "JW- Agro", "JW- Kherson", "WJ Ukraine Ltd", and also "Regul", "UkrProdAgro", "SvitAgro", "UkrAgroExport", "Khlibodar", Kherson Flour Mill and subsidiary "Inhulka Plus".

Deliveries to Italy were made by Mykolayiv based "ProdExportAgro".

Middle East oriented were "ProdExportKontrakt", "AgroExport" Mariupol based "Agro-Business", "Mix-grain-yug", "TransAgro", "Maina", "Agrovita Pivden", which shipped to Turkey along with "VektorOilTrade", which placed its focus on Israel.

“Lasoshchi”, “Solan-Servis” and “ZlatoLan” made deliveries to Eastern Europe.

"Shpola-Agroindustry" made a delivery to neighboring Russia. Shipments to the Baltic States were also made by JV "Lirris", JV "Vlasso" and "Lybid".

In April the largest purchases among the foreign buyers of Ukrainian sunflower seeds were made by Hungarian WJ Grain Ltd (deliveries to European South).

Deliveries to European south were also made by Euro Grain AG (Italy) and Granos Limited (Portugal).

Westoil Ltd switched to Middle East (deliveries to Turkey). This market was also the place to do business for G.I. Trading Company S.A., Iridium Partners LLС and I.Kern Handelsges.m.b.H.

Cargill International S.A. made shipments to Morocco.

Mir-Em was the key Polish buyer.

Among the leading operators you can still see Georgian "BatumVachRoba" and Magira Ltd, and also a new company "Bachtrioni".

Our May forecast shows that the monthly export of sunflower seeds should be within a range of 20-25 ths. t. Until the end of the season shipments will be downsized monthly.

During April 2004 Ukraine exported 102.8 ths. t of sunflower oil totally worth $61.2 mill. (a month ago – 105.1 ths. t worth $63.6 mill.), of which 80.7 ths. t was represented by crude oil (a month ago – 75.2 ths. t).

Contract pries for exported commodity came back to February level. In April the average export price for all kinds of sunflower oil added up $595.90/t (a month ago - $605.45/t). Moreover, the average price for crude sunflower oil made up $551.65/t (a month ago - $566.65/t), refined - $717/t (a month ago - $733.75/t). Prices represent the average export delivery basis СРТ/DAF/FOB Ukraine.

On the cash market prices for crude sunflower oil (export lots) were slightly volatile as of late April and tended to be going towards the level of March – which means than they dropped in general. Thus, during the last ten days of April offers ranged $620-630/t CPT Black Sea ports (or $630-635/t DAF Ukraine).

As Ukraine became a stronger player on the world sunflower oil market prices for domestic oil more and more depend on the world market pricing.

The №1 direction for Ukrainian sunflower oil exports (real destinations not the names which are written in customs declaration) remains Iran, which during the month in review consumed via sea deliveries 35 ths. t (a month ago 29 ths. t). Moreover, this direction was not even mentioned by the official statistics.

Thus, in April 25.2 ths. t exports declared to Switzerland showed (of which 10 ths. t was refined), 17.6 ths. t – to GB, 4.2 ths. t - to the Netherlands and 10.3 ths. t - to Saint Kitts & Nevis, however, most of these volumes ended up in Iran. Moreover, in reality some of those volumes ended up in other countries than declared particularly the same Iran, North Africa and south Europe and even Russia (particularly refined oil declared as export to Switzerland) and Albania (2,000 t of crude oil declared as export to Switzerland).

Thus, deliveries to Russia made up slightly less than 20 ths. t of refined sunflower oil (in April Russia did not buy crude Ukrainian oil). Sunflower oil was also sold to other CIS countries (cumulatively 5.3 ths. t of which 2.4 ths. t was refined oil).

We should mention that refined oil besides Russia was also bought by Italy and Syria (3 ths. t and 1.2 ths. t, respectively).

Actual shipments of sunflower oil to Syria (including deliveries of refined oil) and Turkey added up to 6.3 ths. t and 6 ths. t, respectively. Egypt and Algeria purchased cumulatively 13.1 ths. t on paper but in reality they consumed around 24 ths. t of Ukrainian commodity (a month ago - declared 10.6 ths. t, actually shipped 14.7 ths. t).

According to preliminary data of the official statistics exports to Italy during April showed 6.5 ths. t of sunflower oil however exports by sea showed 8 ths. t. Moreover, 3 ths. t were shipped to Spain and 1 ths. t - to Greece.

Deliveries to France made up 2.8 ths. t of crude sunflower oil.

Deliveries to the Baltic States showed 4 ths. t, including 1 ths. t of refined sunflower oil (a month ago - less than 1 ths. t of all kinds of sunflower oil).

The leader on the export market of sunflower oil remained the same "Cargill", which in April shipped oil to EU, CIS predominantly Russia, North Africa (Egypt) and Middle East (Turkey).

Quite large export deliveries were made by "KyivInterProdukt " (deliveries to Mediterranean area), "Unigrain", "Serna", "Toepfer" and Dnipropetrovsk Oil Crusher (traditionally CIS markets).

Mediterranean markets were also chosen by "EvroTek" (also CIS), "Sungrant Plus" and Volchansk Oil Crusher and "Azov Trade".

CIS oriented were also "OrionAgro", "AgroInter ", "Kreativ" and "Chumak".

"Troitsk oil Crusher" and Zaporizhzhia Oil Crusher made sales to the Netherlands. Vinnytsia Oil Crusher made sales to Lithuania. “Time Export” also made deliveries to the Baltic States.

There was certain reshuffling in the table of leading foreign buyers. Thus, the March leader Agromarket K.M.K Limited, showed much little activity in April except for limited deliveries to Syria and Egypt while the largest purchases of Ukrainian sunflower oil were made by Cargill International S.A. (the key deliveries to EU and North Africa).

The ranks of the first three leading buyers now include Lauffer S.A. (deliveries to Russia, Italy и Syria) и Allseeds Trade A.G.

Stable shipments were made by Glencore International AG (deliveries to Algeria, Syria, Turkey and Albania), however ranks only fourth this time.

Bunge S.A. and Tradepoint Commodities B.V. were the largest shippers of sunflower oil by sea, however, but did not make direct purchases. For instance, Bunge S.A., which in our rating is called "Bunge CIS ", making purchases for Russia’s needs whereas Tradepoint Commodities B.V. ranks 10^th in our rating of leading buyers of Ukrainian sunflower oil.

Inerco UK LLP and Yurol UK Ltd showed purchased oil in Ukraine as exports to the GB, Allseeds Trade A.G and Landwirt und Ernte AG – to Switzerland, United Agro Industrial Ltd – to Malta, but in reality you should see those volumes ending up somewhere in the Middle East, North Africa and European South.

Utv East Oil Handelsges.m.b.H shipped purchased volumes towards Egypt and Georgia.

Aming the leading Russian buyers we should mention besides "Bunge CIS ", also "RusAgroProd ", "Lakonia ХХІ", "VneshEkmProd", "Vimi-Vesp" and "SlaviaAgroTrade".

May forecasts for sunflower oil exports range 65-70 ths. t, with the key destinations to remain the same as in April. However, by the end of the season exports are likely to slide down gradually.

In April statistics shows that sunflower meal exports (hereinafter referred to as meal, cake and any solid by-products including sunflower seeds flour; however, the main exportable commodity is sunflower meal) from Ukraine is slightly lower than that of March however it remained high. This is in the first place due to high demand for Ukrainian meal from foreign markets especially neighboring CIS and Eastern Europe.

Thus, during the month in review (April) exports made up 97.9 ths. t of sunflower meal totally worth $13.2 mill. (a month ago - 101.8 ths. t worth $13.3 mill.).

The average export price for Ukrainian sunflower meal grew again to reach $135.25/t (in March - $130.60/t) CPT/FOB/DAF Ukraine.

The cash market of sunflower meal was stable throughout April: DAF prices ranged $ 145-147/t DAF Ukrainian Belarusian border or $146-148/t DAF Hungarian border, CPT Black seaports showed- $135-138/t or $150/t FOB Black Sea ports.

The largest buyer of Ukrainian meal remains Poland, which in April bought 23.1 ths. t (a month ago - 20 ths. t). But Poland was not alone in Eastern Europe. Particularly Hungary bought 3.7 ths. t and small volumes (within a range of 200-300 t) bought Czech Republic and Slovakia.

Railroad deliveries to Latvia remained stable: exports towards this destination only slightly dropped – from 17.4 ths. t in March down to 16.8 ths. t in April. Cumulatively, the Baltic States consumed 23.9 ths. t of Ukrainian sunflower meal versus 21.9 ths. t in March.

Exports to neighboring Belarus slightly grew – from 9.6 ths. t in March up to 12.8 ths. t in April. In April Ukrainian meal was also sold to Azerbaijan and Armenia (1 ths. t and 1.4 ths. t, respectively). Small volume was also sold to Russia.

Middle East (Turkey and Israel) in April bought above 30 ths. t of Ukrainian meal, European South (Italy) – slightly over 15 ths. t (reports showed smaller volumes – 14.5 ths. t to Italy and Turkey (cumulatively) and 8.6 ths. t to Italy). The above-mentioned destinations consumed volumes, which were originally declared as exports to Switzerland, Denmark (including those declared in March), GB, Saint Kitts & Nevis, (including those declared in March).

In April the largest shipments of sunflower meal for exports made Dnipropetrovs’k Oil Crusher (including sales made via "SunTrade"). Deliveries were made to the Baltic States, EU, and Belarus and Mediterranean markets.

Down the list you can see "JSC Cargill" (deliveries to Belarus, Poland, Hungary an Italy), "Serna" (deliveries to Poland and Israel) and TH "Artos" (deliveries to CIS, Mediterranean and the Baltic markets).

Subsidiary "KyivInterProdukt" made its key deliveries to Baltic markets and Belarus, and also Swiss companies.

"Unigrain" made deliveries to Turkey, Poland and Latvia, "EvroTek" – to Poland, Czech Republic, Latvia and Belarus. "Alfred C. Toepfer International (Ukraine)" delivered to Middle East and Italy.

Vinnytsia Oil and Fat Plant shipped to Baltic States and Poland, Melitopol Oil Crusher – shipped the main volumes towards Poland, Zaporizhzhia oil and fat plant, "Svatove Oliya" and Polohy МЭЗ – to Belarus (with the latter also shipping to Slovakia). L’viv Oil and Fat Plant shipped to Azerbaijan and Poland, Chernivtsi Oil and Fat Plant exclusively to Poland, Nizhyn Oil and Fat Plant – to the Baltic markets.

"Askop-Ukraine" did most of the business with the Baltic’s markets along with "Kreativ", "Melagrain", "Lactalis -Ukraine ", "OrionAgro". "Time Export" made deliveries to Eastern Europe.

The largest operator on the export sunflower meal market in April was Swiss Landwirt und Ernte AG (the key deliveries to Baltic countries). Down the list you can find Allseeds Trade A.G. (the key deliveries to the Baltic markets as well plus Eastern Europe and also Middle East), Glencore International AG (deliveries to Poland and Israel), Cargill International SA (deliveries to Italy and Poland), Omega Commodities Ltd – (key deliveries Israel, Turkey and Italy) and Lauffer SA (key deliveries to Baltic States and Belarus).

Polish Krom made quite sizeable purchase in April. Deliveries to Poland were also made by Oberon Trading Ltd and Inerco UK LLP (the mentioned companies also did business with the Baltic markets with the latter also selling to Turkey).

Alfred C. Toepfer International GmbH delivered Ukrainian meal towards Italy, Latvia and Hungary, Bunge S.A. – to Latvia and Hungary, B.L.M.Trading LLC and Thegra Continental B.V. – to Latvia and Poland. Yurol UK Ltd delivered predominantly towards Israel and Turkey.

Agromarket K.M.K Limited in April restricted itself to deliveries to Israel, Risoil Trading LTD – delivered to Latvia. Lithuanian “Linas Ir Visa”, Estonian “Everwelle”, and also Egerald Trading LLC, Tenfore Systems UK Limited and Premier Consult LLC made deliveries to the Baltic States.

Szabolcs Takarmanylpari Rt, Europharma Ltd and Agrograin Rt made purchases for further deliveries to Hungary. Tew-Servis Sp. z o.o., Semi Sp.z o.o., Parol and Wawa Sp. z o.o were buying commodity for Poland’s own needs. Utv East Oil Handelsges.m.b.H and Viks L LLC also made deliveries to Poland. Purchases for further deliveries to other East European countries (Czech Republic, Slovakia) were made by Czech Act Fast Spol.s r.o.

Deliveries to Belarus were made by certain Russian companies including "Spetsmarket", "Corn-Trade", "Business Market", "Imperial Line", "Univers", "StroyPriorInvest", "Servisgrad", "Polaris", "Orion", "Vektraton" and "MegaGrant", along with Kyrgyz based "AgroInvest", "KremProd" and "Mir i Ai".

Direct purchases were also made by Belarusian "Alvez", "Ellvirs", "Nolina" and "KanDeis".

Ukrainian meal was also purchased by Armenian Lusakert and Arzni poultry farms and "Punik ", (Armenia), along with Azerbaijani "Kiliazi Gushchulug Shirkiati".

April forecast for monthly sunflower meal exports goes up to 110 ths. t or slightly higher. Even in monthly volumes of sunflower meal exports will go down due to approaching new feed crop and ending of oilseeds season they will still remain at quite high level.

E-mail: Maryna.Moiseyeva@proagro.com.ua
Tel./Fax: +380 44 494-46-38
PROAGRO Company
Agribusiness Information Support

1/ Marketing year statistics are based on months October through September.
2/ Preliminary data

*Forecast

In April 2004 Ukrainian companies purchased 12 ths. t of palm, coconut and palm kernel oil which is slightly inferior to March imports (14.6 ths. t), however this is still higher than April 2003 indicator (10.6 ths. t). Cumulatively tropical oils import during the season in review shows quite higher indicators compared to 2002/03 MY (during corresponding time). Thus, since the beginning of the marketing season (during October-April) imports made up almost 78.1 ths. t of palm, coconut and palm kernel oil which exceed past season’s imports during the same period by 16.4 ths. t.

At the same time, soybean meal imports declined over preceding month and past year’s April showing in 2004 3.7. ths. t (8.8 ths. t a month ago and 7 ths. t in April a year ago). Cumulatively during October 2003 – April 2004 imports made up 43.3 ths. t of the commodity in question versus 38.4 ths. t in October2002 – April 2003.

Thus during April 2004 Ukrainian companies purchased the following of which:

• 3.7 ths. t of soybean meal (a month ago - 8.8 ths. t) averagely priced @$341.53/t (a month ago - $336.92/t) CIF (C&F) Ukraine ;
• 9.5 ths. t of palm oil (12.7 ths. t) priced @$579.2/t ($588.92/t) CIF (C&F) Ukraine ;
• 2.5 ths. t of coconut oil (1.9 ths. t) priced @$754.29/t ($787.17/t) using the average import basis CIF (C&F)/DAF Ukrainian border.

In April imports of palm and coconut oil from Malaysia noticeably increased while imports from Indonesia vice versa. Approximately on the same level were deliveries of coconut oil from the EU but imports of palm oil from the Netherlands declined.

Soybean meal was supplied by Brazil and the Netherlands.

On the import market soybean meal appreciated however prices for imported palm and coconut oil dropped a little compared to March.