Russia in 2022 increased the supply of linseed oil to China by almost 4 percent

Published 2023년 3월 27일

Tridge summary

In 2022, Russia saw a growth in linseed oil exports to China, making it the largest buyer of both oilseed flax and linseed oil from Russia, accounting for approximately 42% of the oil and over half of the flax imports. Other significant importers include Belgium, Latvia, Poland, Turkey, Lithuania, and Norway. The export of Russian oil flax, linseed oil, and flax saw increases in 2022, with expectations for further growth in 2023. Russia was the leading producer of oilseed flax globally in 2021, with a harvest of about 3.3 million tons, and ranks sixth in worldwide linseed oil production.

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Original content

In 2022, the Russian Federation exported more than 15 thousand tons of linseed oil to China, which is 3.7% more than in 2021. This was reported by the Agroexport center under the Ministry of Agriculture. In monetary terms, exports added 15%. As emphasized in the report, China is the largest buyer of both oilseed flax and linseed oil. Last year, it accounted for about 42% of oil supplied from the Russian Federation and more than half of flax (in physical and value terms). "The export potential of flax seeds is quite large, and I think it will increase," says Alexei Penkov, director of the Rusan company (Altai Territory, exporter of flax), quoted by Agroexport. "According to our data, China is ready to buy even more of the volumes that are currently offered from Russia. If Chinese importers used to buy flax in Canada, now they are shifting their focus to Russia, and the abolition of anti-COVID restrictions helped increase consumption." In 2022, the company shipped 4.6 thousand tons ...

Source: Oilworld