Russia needs to think about new markets for vegetable oil exports

Published 2022년 11월 22일

Tridge summary

Russia faces a slowdown in demand for its vegetable oils, particularly from China and other traditional importing countries, and is looking for new markets in countries with population growth, such as India, the Middle East, and North and Tropical Africa. Despite logistical challenges, Russia remains a net food exporter, with exports expected to reach about $40 billion in 2022. The geography of exports has not significantly changed, with Turkey, China, the EAEU countries, Iran, India, and Egypt increasing their purchases. Russian oil and fat companies are actively expanding their presence abroad, with plans to increase exports by 70% by the end of the season.

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

Original content

Russia in the next ten years needs to look for new markets for vegetable oils due to a strong slowdown in demand growth in China and other importing countries. This opinion was expressed during the "Agrarian Forum" held by the newspaper "Vedomosti", the head of the agricultural market research department of the Institute of Agricultural Research of the National Research University "Higher School of Economics" Natalya Karlova, writes pole.rf. According to her, Russia should focus its exports on countries with the prospect of a significant increase in the population - these are India, the Middle East, North and Tropical Africa. However, the interest of these states is mainly focused on basic food, and not on highly processed products. According to the UN FAO forecast, which Karlova cited, until 2031, the growth rate of world food demand will decline and average an annual value of 1.1% compared to 2% in the previous decade. In addition to vegetable oil, the demand for grains and fish ...

Source: AgroInvestor