In the current season, the production of vegetable oil in Russia will grow by 17%

Published 2023년 5월 24일

Tridge summary

Russian oil extraction businesses have seen a significant increase in vegetable oil production for the current season, with a total output of over 8.8 million tons, marking a 17% increase from the previous season. This includes a notable rise in sunflower oil production by 7%, soybean oil by 32%, and rapeseed oil by 62%. The export of raw materials and a record harvest have contributed to this surge, with niche oils also showing some growth. By the end of the season, linseed oil production is expected to double, mustard oil production may increase by 1, and camelina oil by 1.4 times.

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

Original content

According to the results of the current season (September 2022 - August 2023), Russian oil extraction enterprises can produce more than 8.8 million tons of vegetable oil of all types, which is 17% higher than the level of the 2021/22 season. Mikhail Maltsev, Executive Director of the Oil and Fat Union of Russia, announced such a forecast to the Agrotrend portal. According to him, by the end of summer, sunflower oil production in Russia will reach 6.29 million tons (+ 7% per year). The output of soybean oil will increase to 975 thousand tons (+32%), rapeseed oil - up to 1.4 million tons (+62%). . Thus, from September 2022 to March 2023, the figure increased by 16%, reaching 5.19 million tons. "This was facilitated by both a record harvest and the preservation of duties on the export of raw materials. According to our forecasts, the situation will not change until the end of the season and this We will see an increase in the production of these oils at the end of the current ...

Source: Agrosektor