Russia: Meal producers change the geography of their exports

Published 2024년 8월 24일

Tridge summary

Due to the EU's restrictive import duties, Russia is shifting its agricultural export focus. The National Feed Union says Russia produced 13.5 million tons of meals and cakes in the 2023/24 season, primarily based on sunflower, soybean, and rapeseed. OleoScope reports a rise in foreign exports of these meals, particularly to Belarus, Turkey, and China, as Russia's exports to the EU have decreased. EFKO Group, a major producer, has shifted its focus from the EU to Turkey, China, and Belarus, and also considers African countries as potential buyers.

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

Original content

After the EU introduced prohibitive import duties on grains, oilseeds and processed products for Russia, Russian companies are looking for new sales channels. According to the National Feed Union, 13.5 million tons of meals and cakes were produced in Russia in the 2023/24 season. Of these, sunflower - 7 million tons, soybean - 4.7 million tons, rapeseed - 1.8 million tons. About 9.2 million tons of meals are consumed annually within the country. OleoScope calculated that in 10 months of the 2023/24 season, Russia supplied almost 4.4 million tons of plant meals to foreign markets in all directions, compared to 3.4 million tons in the same period a year earlier. During the mentioned period, our country exported less than 800 thousand tons of plant meals to the EU countries, while during the same period last season this figure was about 1 million tons, OleoScope analyst Liliya Varygina told Agroinvestor. In June-July of this year, deliveries of rapeseed meal and cake to a number of ...

Source: AgroInvestor