In 2022, Russia will export a record volume of rapeseed oil

Published 2022년 12월 14일

Tridge summary

Russia is projected to rank as the third-largest exporter of rapeseed oil in 2022, following Canada and Germany, with an expected production of over 1 million tons of rapeseed oil, marking a 38% increase from 2021. The country also anticipates producing approximately 1.4 million tons of rapeseed cake, a 75% increase from the previous year. The surge in production is primarily driven by escalating export demand, with China being the leading importer. Despite low domestic consumption, Russia plans to achieve a record volume of rapeseed oil supplies to international markets, expecting to export around 950 thousand tons, a rise from the 802.5 thousand tons exported in 2021, despite logistical challenges due to sanctions.

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Original content

Russia ranks 3rd in the ranking of world exporters of rapeseed oil after Canada and Germany and continues to increase export volumes. According to the forecasts of the Oil and Fat Union, in 2022 Russia will produce more than 1 million tons of rapeseed oil and about 1.4 million tons of rapeseed cake, which is respectively 38% and 75% more than in 2021. The main driver of growth in rapeseed oil production in Russia is the export demand that is increasing every year. China remains the largest importer of domestic rapeseed oil, accounting for more than 50% of exports this year. On the second and third place - Latvia and Norway. However, rapeseed oil is not very popular in Russia. Its consumption in the domestic market is insignificant, over the past three years it has remained stable and amounts to approximately 50 thousand tons per year. The rest of the oil is exported. France, Germany, Great Britain consume the most rapeseed oil in Europe. Despite a number of additional logistical ...

Source: Oilworld