Prometey to be engaged in production, export of sunflower oil

KYIV. Aug 30 (Interfax-Ukraine) – Prometey Group intends in the near future to begin production and export of unrefined sunflower oil to India, China and European countries, and in the future it plans to organize the packaging of oil into bottles under its own Prometey trademark, according to the group’s website.

According to it, the entry into the new market is caused by a combination of factors: company’s successful trade in grains and oilseeds, the purchase of new elevators and the expansion of a land bank, as well as diversification of services provided to farmers in a favorable external environment. Prometey clarified that the upward trend in world consumption of sunflower oil will continue despite the volatility of the oilseed market, which will serve as a driver for the development of the oil and fat industry in the future.

"In the market, Prometey has long established itself as a major supplier of sunflower seeds. Now we have ambitions to become a major supplier of oil," the company quotes the words of its oilseeds and oils trader Artur Dalakyan.

It is clarified that in the near future the company does not plan to supply sunflower oil to the domestic market: at the initial stage of the project implementation, it is planned to produce unrefined oil for export to India, China, as well as European countries. At the same time, in the future, the group is ready to expand the range of exported products.

"If we talk about foreign markets, bottled products are a very profitable direction. Deliveries in this format require a fairly high margin, at the same time, this market is more complex and requires the involvement of additional tools. Over time, the company will take its part of this market. But at the moment, only draft products will be supplied," Dalakyan said.

According to the group, in the future it is planned to pack bottles under its own Prometey trademark.

The grain trader clarified that in the short term, this direction will not become a priority for the group. At the same time, the launch of a project for production and export of sunflower oil gives Prometey a number of long-term dividends, such as expanding the pool of foreign business partners, experience with a new technological method of processing, as well as entering foreign markets as a supplier of a product with high added value.

Prometey Group provides storage, processing and logistics services for grain and leguminous crops using 29 elevators in Mykolaiv, Kirovohrad, Kyiv, Khmelnytsky, Zaporizhia, Sumy, Odesa, Kherson and Dnipropetrovsk regions.