Russia in the 2023/24 season can export a record volume of basic vegetable oils

It is expected that the figure will reach 6.38 million tons Russia can sell a record 6.38 million tons of key vegetable oils to foreign markets in the 2023/24 season. This forecast was published by specialists from the Hamburg analytical agency OilWorld (Germany) in their report. According to their estimates, the export of Russian sunflower oil in 2023/24 MY will reach a new maximum and reach 4.37 million tons, which is 250 thousand tons higher than the expected level of the current agricultural year and 1.2 million tons - the result of 2021/22 MY. “The main sales markets will be China, India, Iran, Iraq, Turkey, Egypt and several African countries,” the experts explained. They also expect an increase in the supply of rapeseed oil from the Russian Federation from 1.3 million tons in MY 2022/23 to 1.32 million tons in MY 2023/24 (0.9 million tons in MY 2021/22). It is expected that the products will be shipped mainly to China. “In ...