Imports of sunflower seeds to the Russian Federation in 2023 will decrease by 19.5%

Published 2023년 11월 10일

Tridge summary

According to the RUSEED analytical center, Russia's seed imports are expected to decrease from 25 thousand tons in 2022 to 20.1 thousand tons by the end of 2023. Turkey and the USA have been the main suppliers to Russia, with France and Spain also contributing significantly. However, the cost of imported seeds is increasing, with prices rising by 16.4% compared to last year. This could potentially affect the profitability of domestic agricultural producers and increase the demand for domestically selected seeds.

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

Original content

According to the RUSEED analytical center, by the end of the year 20.1 thousand tons of seeds will be imported to Russia, compared to 25 thousand tons in 2022. Türkiye and the USA remain one of the main suppliers; imports from Europe are declining. From 2002 to 2014, the import of sunflower seeds to Russia increased due to high demand - during this period the figure changed from 2.2 thousand tons to 21.9 thousand tons. Then, after a slight decline, imports again reached their peak - in 2020, 30.8 thousand tons of sunflower seeds were imported to the Russian Federation. The decrease in imports in the last two years is due to the growth of domestic production and improvement in the quality characteristics of products. Source: ITC, RUSEED calculations, 2023 – estimate Turkey and the USA remained the main suppliers for Russia over the past 20 years; their total share was more than 50%. A significant percentage falls on France and Spain – 13% and 10% respectively. Analysts expect that ...

Source: AgriNews