On-the-Ground Updates

Russian exports of soybean products is growing

Refined Soybean Oil
Anastasia Shilyaeva
Published Oct 23, 2020
The world market for soybeans and its processed products is demonstrating dynamic growth due to an increase in demand from poultry and livestock breeding for soybean meal, as well as the consumption of soybean oil for food and its use in biofuel production.
Russian exports of soybean products are also growing. In January-June, 384KMT of soybean oil were shipped from Russia in the amount of 282 million dollars, which is 49% more than the same volume last year.
Sales of soybean meal abroad increased by 34% to $ 122 million.
The leading buyers of Russian soybean oil this year are China, Algeria and Denmark, soybean meal - the Netherlands, Uzbekistan and Poland.
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