In 2021, Russia increased the export of fat and oil products by 57%

Published 2021년 6월 2일

Tridge summary

In the first quarter of 2021, Russia saw a 1% increase in fat and oil product exports, totaling 3 million tons, with a 57% increase in export value to $2.6 billion, largely due to high global prices for basic vegetable oils. Sunflower oil exports experienced the biggest increase, followed by rapeseed and soybean oil, while linseed oil exports saw a decrease but monetary increase. Turkey, China, and India were the leading buyers, with Turkey showing the highest growth in purchases. The export of GC 'Blago' remained steady, with China being its main market. The rise in export volumes is primarily attributed to the increase in global prices for fat and oil products.

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

Original content

According to the results of the first 4 months of 2021 (data for the EAEU countries for January-March), Russia supplied 3 million tons of fat and oil products to foreign markets, which is 1% more than the same period in 2020. Thanks to a significant increase in world prices for basic vegetable oils, the value of Russian exports increased by 57% to $ 2.6 billion. Sunflower oil supplies increased in physical terms by 0.8% to 1.4 million tons, and in monetary terms - by 71% to $ 1.7 billion. Export of rapeseed oil increased by 14% to 219 thousand tons in physical volume and by 40% to $ 229 million in cash. Soybean oil shipments amounted to 165 thousand tons (-29%) for the amount of USD 161 million (-5.5%). Exports of meal and cake increased to 1.1 million tons (+ 5.2%) worth $ 397 million (+ 68%), margarine - up to 64 thousand tons (+ 4.2%) by $ 80 million (+ 33%), mayonnaise and other sauces - up to 30 thousand tons (+ 9.1%) for $ 43 million (+ 26%). Linseed oil supplies fell 2.8 ...

Source: Aemcx