ADM taps Eastern European sunflower seed demand

By Neil Merrett

- Last updated on GMT

Related tags: Eastern europe, Europe, Ukraine, Adm

Ingredients firm Archer Daniels Midland (ADM) is to consolidate its
position in Eastern Europe's burgeoning market for sunflower seed
by gaining control of a plant in the Ukraine.

The move is a further sign of the growing importance to multinational companies of Eastern Europeans sunflower seed market, as demand for healthier edible oils continues to drive growth. ADM said this week that it had successfully obtained the remaining shares in the Ilitchevskiy Maslo Extractionniy Zavod joint stock company (Imez) from Risoil, who had previously held an equal share in the venture. Through the buyout, ADM will take full control of Imez's sunflower seed crushing facility near the Ukrainian port of Odessa. Ukraine is a particularly important producer of the product. ADM estimates that the country is currently the world's second largest supplier after Russia, boasting an annual output of almost 5m tonnes a year. Mark Zenuk, vice president of ADM's European and Asian operations believes the company's latest acquisition is an important step in consolidating its position within the wider global market for sunflower oil. "The Imez facility at Illitchevsk complements our global asset base in an important origination location,"​ he stated. "We look forward to working with Ukrainian farmers to help meet the changing needs of our food customers due to evolving global demands,"​ he stated. Sunflower seed production around the world was set at 7.48 million metric tonnes in the 2001-02 growing season, increasing to 10.46 in 2005-06, according to US Department of Agriculture figures. Demand for the product during the same period increased from 7.52 to 9.84 million tonnes.

Related news

Related products

show more

Paving the path for the plant-based transition

Paving the path for the plant-based transition

Solina | 26-Sep-2022 | Research Study

Recognising that sensory optimisation can accelerate the plant-based transition, NEXTERA®, Solina’s subsidiary in new protein food, has worked with an...

Transparency: Why it's critical to food businesses

Transparency: Why it's critical to food businesses

Muddy Boots by TELUS Consumer Goods | 01-Sep-2022 | Technical / White Paper

Transparency can be seen as a golden thread that runs through economic, environmental, political and ethical pillars in a global food system that is more...

OATVITA, A RISING STAR IN THE PLANT-BASED MARKET

OATVITA, A RISING STAR IN THE PLANT-BASED MARKET

OATVITA, a Frulact company | 27-Jun-2022 | Product Brochure

OATVITA is focused on the development of plant-based concentrated liquid solutions for food and beverage industry. We offer innovative and tailor-made...

Related suppliers

Follow us

Products

View more

Webinars