Russia ramps up vegetable oil production in 2022

Published 2022년 5월 16일

Tridge summary

Russia's first quarter production of crude vegetable oil saw a 4% increase, reaching 1.98 million tons, while refined oil production rose by 15% to 601 thousand tons. This growth is attributed to higher sunflower harvests, increased global demand for Russian products, and high self-sufficiency. Sunflower oil production is projected to hit 8 million tons by 2025, with 80% expected to be for exports. Soybean oil production also saw a 6% increase, and rapeseed oil production rose by 44%. Linseed oil, which is primarily exported, experienced a decrease in production for unrefined products but an increase in refined products. Mustard oil production also increased due to increased domestic demand and cultivation.

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

Original content

In general, according to the results of the first quarter of 2022 in Russia, the production of unrefined crude vegetable oil (sunflower, soybean, rapeseed, linseed, mustard, etc.) increased by 4% - from 1.9 million tons (January-March 2021) to up to 1.98 million tons. 659 thousand tons of the product were refined against 571 thousand tons (+15%) in the same period last year. Sunflower oil Rosstat notes that the production of unrefined sunflower oil for the 1st quarter remained at the level of 1.56 million tons. There is an upward trend in the output of refined oil - up to 601 thousand tons (+ 17% compared to January-March 2021). The increase in output is facilitated by a significant increase in the sunflower harvest last year, an increased interest in Russian products from the main buyer countries Turkey and Iran, as well as a high share of self-sufficiency in the product, which allows selling oil abroad. According to analysts at Sberbank CIB Investment Research, sunflower oil ...

Source: Oilworld