Russia can increase the export of linseed oil several times

Published 2022년 9월 7일

Tridge summary

Russia is emerging as a dominant player in the global oilseed flax market, with its production seeing a significant increase over the past three years, reaching approximately 1.5 million tons in 2022, which is nearly double the previous year. The country's leadership in flax seed export and its position as the world's second-largest exporter of raw linseed oil are expected to strengthen further. The growth in linseed oil exports is anticipated to be boosted by the launch of two new flax processing plants, as the demand for flax in the form of high-value-added products like oil, meal, and flax flour continues to rise. Additionally, the demand for flaxseed flour in the production of plant-based meat alternatives is on the rise, with Efko exploring the potential of this ingredient to enhance the protein's amino acid profile.

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

Original content

In the last three years, the production of oilseed flax in Russia has been increasing. In addition, our country is in first place in the world in its export, in second place in the export of raw linseed oil. Mikhail Maltsev, executive director of the Oil and Fat Union, told Agroexport about this. He believes that in the near future Russia will be able to increase the volume of supplies of linseed oil abroad by several times, reducing the export of flax oil seeds. According to the forecast of the union, in 2022 the oilseed flax crop in Russia will be about 1.5 million tons, which is almost twice as much as last year. At the same time, the production of oil and meal has so far increased slightly. “Therefore, we mainly export oilseed flax as a raw material, but since 2018 we have also started exporting oils, shipping abroad an average of 30,000 tons per year. Russia is among the top 3 world oil flax exporters, competing with Canada and Kazakhstan,” Maltsev is quoted in the Agroexport ...

Source: AgroInvestor