Sunflower oil shortages caused by the Russian invasion of Ukraine could last for two years, wholesalers have warned.
Last week, Nisa informed stores that remaining stocks of sunflower oil in the UK were likely to be “exhausted within the next few weeks”, as the two conflicting nations supply 80% of the global market between them. Better Retailing understands availability of the product from Booker has also been affected.
In a message to retailers, seen by Better Retailing, Nisa said: “Co-op and Nisa currently buy all sunflower oil, both Co-op label and the Flora brand, from Princes, whose joint venture partners, ADM, have operations within the Ukraine.
“Understandably, these sites are currently unstaffed, as people either seek safety or join others to fight for their country. New seed for the 2022/2023 season is due to be planted soon and it is highly likely this will not happen. It is therefore anticipated that there will be widespread global shortages on sunflower oil for 18-to-24 months.”
Nisa added it expects customers to buy more vegetable oil as an alternative to sunflower oil and that Co-op is trying to secure new contract volumes to help meet the increased demand.
Last month, an all-party parliamentary group warned the conflict would also impact supply of beer and pallets used for wholesale deliveries, as Russia and Ukraine supply materials for both items.