In the first half of the year, the growth of exports of rapeseed oil from Russia amounted to almost 56%

Published 2021년 11월 24일

Tridge summary

Russian rapeseed oil exports have seen a significant increase over the last five years, with the first half of 2021 alone accounting for $376.8 million worth of exports, marking a 55.9% increase from the same period in the previous year. The total export volume also rose by 18.4% to 342.1 thousand tons. China is the primary consumer of Russian rapeseed oil, followed by Norway, Latvia, and Lithuania. The high profitability of exports, coupled with a global vegetable oil shortage, has contributed to this growth. Russia currently ranks third in rapeseed oil exports. The Agroexport center identifies the EU, Asia, Mexico, and Chile as potential new markets.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Over the past five years, the export of this oil has more than tripled, both in volume and value. In the first half of 2021, Russia exported $ 376.8 million worth of rapeseed oil, which is 55.9% more than in the same period last year, the Agroexport center reported. In physical terms, supplies increased by 18.4% to 342.1 thousand tons. In 2020, exports amounted to 687.5 thousand tons, which is 2.9% higher than the level of the previous year. The main buyer of Russian rapeseed oil is China, which accounted for 43% of supplies in value terms in 2020, as well as Norway (29.8%), Latvia (9.5%) and Lithuania (7%). As noted in the Center, vegetable oils are one of the key positions in the structure of agricultural exports in Russia. Despite the fact that among them the largest volume of supplies traditionally falls on sunflower oil, rapeseed oil is in the top 3 products of the fat and oil industry supplied to foreign markets. Over the past five years, the export of this oil has more than ...
Source: Specagro

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.