In 2023, the Russian Federation increased the export of vegetable oil by a third

Published 2024년 1월 24일

Tridge summary

In 2023, Russia saw a record high in vegetable oil exports, shipping over 6.5 million tons, a 33% increase from the previous year. This surge was attributed to record oilseed harvests in 2022 and 2023, maintained duties on oilseed exports, and increased international demand for domestic products. Sunflower oil exports rose by 31%, primarily to China and India, while soybean oil exports grew by 8%, mainly to India and Algeria. The most significant increase was in rapeseed oil exports, up by 58%, with China as the primary buyer.

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Original content

Moscow. January 24. INTERFAX.RU - The Russian Federation exported over 6.5 million tons of vegetable oil in 2023, which is a third more than in 2022, according to joint monitoring by the OleoScope information and analytical agency and the Oil and Fat Union. “The current result is the highest for the country, it was achieved due to record harvests of oilseeds in 2022 and 2023, the preservation of duties on oilseed exports and growing demand for domestic finished products abroad,” OleoScope analyst Kirill Lozovoy told Interfax. Thus, the volume of sunflower oil exports increased by 31%, to 4.29 million tons. Its share in the structure of exports of all types of oils from the Russian Federation was more than 65%. The key buyers were China and India, where 897 thousand tons (254 thousand tons in 2022) and 885 thousand tons (433 thousand tons) were sent, respectively. “It is noteworthy that the increase in supplies of sunflower oil from the Russian Federation was also associated with ...

Source: Interfax