Ukrainian sunflower oil holds 40% share of Chinese market
Ukrainian sunflower oil produced under the local brand, Jinlongyu, accounts for 40% of the domestic market in China, as indicated in an article written by Alexei Koval for ZN.UA, citing representatives of Delta Wilmar.
Koval points out that this success was possible through a proper marketing strategy and an advertising campaign that the Chinese consumer understands.
At the same time, importers of Ukrainian oil earn the added value which could have remained in Ukraine if Ukrainian producers were willing to invest not only in production but also in developing a national brand.
"The right strategy in promoting brands can raise the prices of Ukrainian products, and will allow high-quality Ukrainian food products to enter the premium category, and such goods are less prone to price fluctuations. However, branding of food in Ukraine is a serious challenge for both market participants and government officials," the author concludes.