Danger bells are ringing in sunflower oil. Crude sunflower oil went from $1400 to over $2,000 a ton. Russia does not allow the exit of 15-16 ships carrying oil belonging to Turkey in the Sea of Azov. If these ships cannot be brought, Turkey may be left without oil.
The Vegetable Oil Manufacturers’ Association wrote to the Ministry of Commerce, General Directorate of Imports, requesting that there is enough oil in stocks at most until the end of March and mid-April, and urgent action should be taken by the Ministry of Foreign Affairs and the Russian Embassy to allow Russia to import ships.
70% of Turkey’s oil imports come from Russia and Ukraine.
The Russia-Ukraine war may drag Turkey into an oil crisis. Turkey, the world’s largest sunflower importer, imports mainly from Ukraine and Russia. The war between the two countries largely stopped Turkey’s crude oil imports.
One of the key points in the import of crude sunflower oil is the Azov (Azov) sea. Most of the sunflower oil imported to Turkey is loaded from the Rostov Port in this region. Russia is keeping Turkey’s 15-16 ships waiting here. If these ships are not allowed, there will be oil shortage in Turkey.
1-1.5 months of oil left in stock, including market shelves
Tahir Büyükhelvacıgil, Chairman of the Board of Directors of the Vegetable Oil Manufacturers Association, expresses the situation in oil in the letter he sent to the Ministry of Trade, General Directorate of Imports:
“As you know, the losses of our country in the ongoing Russia-Ukraine conflict are increasing day by day. In the current situation, the vegetable oil sector has become much more strategic than other food sectors. The stocks of our country, including the market shelves, are sufficient until the end of March or mid-April. Currently, 15-16 ships of our industry ordered from Russia and Ukraine are waiting at the Black Sea ports.
Crude oil exceeds $2,000 per ton
Oil prices, which were at the level of 1400 dollars a ton a couple of weeks ago, have climbed above 2000 dollars in the international markets. Considering at a further stage, we have left the price concerns aside and have come to the point of not being able to find raw materials. The current situation is rapidly evolving to the level of food supply security.
Russia unwittingly imposes food embargo on Turkey
One of the key points in the import of crude sunflower oil of our industry is the Azov (Azov) sea. Most of our ships are loaded from Rostov Port located in this region. Considering the actual situation, the Sea of Azov has been completely controlled by the Russian armed forces and has become an inland sea. While this is the case, the Russian Federation still does not allow the exit of cargo ships from this region. From another point of view, Russia, which continues its trade by selling gas even to EU (European Union) countries, which increase the embargo level to Russia day by day, perhaps started to impose a food embargo on our country without realizing the current situation.
Our country’s relations with Russia are at a much more advanced level compared to the EU and other countries in the region, and it is of vital importance for our country that the Sea of Azov is opened to transportation immediately, by taking initiatives in the presence of both our Ministry of Foreign Affairs and the Russian Embassy. We provide the necessary information for your information.”
Big increase in sunflower oil
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