Russia may increase soybean oil exports by 14%

In the current 2024/25 agricultural year, Russia may increase its soybean oil exports to 860 thousand tons, which is 105 thousand or 14 percent more than in the previous agricultural year. Such forecasts were voiced by analysts at the OleoScope center. If this figure is achieved, then our country may take fourth place in the list of the world's largest exporters of this product. In turn, last season, oil exports increased by 111 thousand tons from the 2021/22 level. The production of this product in the last agricultural season amounted to 1.076 million tons, or 50 thousand more than in 2021/22, and this year the production volumes may exceed 1.1 million. At the same time, analysts note that the export of soybeans from the country, on the contrary, is declining. Last agricultural season, it decreased by half a million tons to 1.1 million, and this year it is expected to fall by another 200 thousand. Overall, Russia ranks eighth in the world ranking for the supply of this crop. ...