Russia increases supplies of vegetable oil to Egypt

At the same time, the cost of shipments increased 3.3 times and amounted to $475 million. This was announced by Kirill Lozovoy, an analyst at the OleoScope agency, at an event organized by Sberbank JSC. He noted that Russia is now actively exporting sunflower and soybean oil to Egypt. In 2023, 393 thousand tons of sunflower oil and 93 thousand tons of soybean oil were shipped. Lozovoy emphasized that oil production in Egypt cannot satisfy domestic needs, so the country is forced to import products, including holding tenders through the state agency GASC. In Egypt, wealthier consumers prefer sunflower oil, while lower-income people choose blends of soybean, palm and sunflower oil. In addition, Lozovoy noted that Russia supplies oils to other North African countries, such as Tunisia, Libya, Algeria and Sudan. At the ...