In the new season, Russia may set a record for the export of vegetable oils

Analytical agency OilWorld (Germany) predicts that in the 2023/24 season, Russia can supply 6.38 million tons of basic vegetable oils to foreign markets, which will be a new record. Including the export of sunflower oil can reach 4.37 million tons - 250 thousand tons more than expected for the current season (ends on August 31) and 1.2 million tons higher than the result of 2021/22. The main sales markets will be China, India, Iran, Iraq, Turkey, Egypt and several African countries, analysts say. OilWorld estimates the potential for export of rapeseed oil from Russia at 1.32 million tons (1.3 million tons in the 2022/23 season and 0.9 million tons in 2021/22). It will be shipped mainly to China. The export of soybean oil in the new season is expected to reach 0.69 million tons against 0.67 million tons in the current marketing year and 0.53 million tons in 2021/22. Russia can export record volumes of sunflower oil not only at the end of the current season (ends on August 31), but ...