Russia to export 5.2 million tons of sunflower oil by the end of the 2023/24 season

This is 27% more than last season Sunflower oil exports from Russia for the 2023/24 season (ending on August 31) are forecast to be around 5.2 million tons (4.1 million tons in the 2022/23 season). Mikhail Maltsev, Executive Director of the Oil and Fat Union, told pole.rf magazine about this. As the expert noted, based on the results of the outgoing season, our country will retain second place in sunflower oil supplies to the world market. “If logistics problems and settlement issues with key buyer countries are successfully resolved, and the volume of the future oilseed harvest meets forecasts, then Russia has a chance to become the first in the world sunflower oil market,” Maltsev said. Speaking about the price situation on the vegetable oil market, he noted that after the grain deal was closed, the fair spread between sunflower, soybean and palm oil began to recover. “The price situation in the outgoing season was in a horizontal trend, being at levels from 800 to 950 dollars ...