Russia: Export of vegetable oils decreased

Published 2022년 4월 21일

Tridge summary

Russia's vegetable oil exports have seen a significant decrease in the first quarter of 2022, with a 26% drop compared to the same period last year, totaling around 1 million tons. This includes a 44% decrease in sunflower oil exports, primarily to Turkey, and an increase in soybean and rapeseed oil exports to Tunisia, Algeria, and China respectively. The export of meals also saw a 9% increase year-on-year, but a new quota limit has been set at 700,000 tons. The export volumes of soybean meal have also increased, with Germany as the leading buyer, while rapeseed meal exports have decreased by 30%.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Vegetable oils According to the Federal Customs Service of Russia, and additional data for January - March, the export of vegetable oils decreased by 26% compared to the same period last year and amounted to about 1 million tons. During the reporting period, the volume of export of sunflower oil amounted to 608 thousand tons, which is 44% lower than last year. Turkey was the main buyer in March. According to ProZerno, in March 2021, the volume of sunflower oil sales was a record 417 thousand tons, this season - only 260 thousand tons. “That's good too, but it's not enough. It turns out that last season from September to March, exports amounted to 1.8 million tons, this year - 1.3 million tons, but we need to export more than in the 2020/21 season, since the Russian sunflower crop and global oil needs higher,” added ProZerno. Export of soybean oil in January-March amounted to 166 thousand tons, which is 39% higher than last year. The leaders in the purchase of soybean oil in March ...

Source: Oilworld