Russian agricultural exports to Norway grew by 60% in 2021

Published 2021년 6월 10일

Tridge summary

There has been a significant increase in Russia's agricultural exports to Norway in the first quarter of 2021, with a 73% rise in volume reaching 155 thousand tons and a 60% increase in value to $153 million compared to the same period in 2020. This growth is primarily driven by a 74% increase in rapeseed oil exports, which now account for 25% of Russia's total exports to Norway. Other exports, such as meal and cake, wheat gluten, and wheat, have also seen substantial increases. Norway's small population but high consumption of fat and oil products, and its role in aquaculture, contribute to its demand for Russian agricultural products. Furthermore, Norway's location outside the EU results in lower import duties on Russian agricultural goods. The Federal Center 'Agroexport' predicts that by 2030, Russia could double or triple its agricultural exports to Norway, covering a wide range of products including fish, gluten, and various crops.

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

Original content

In January-April 2021, 155 thousand tons of agricultural products were exported from Russia to Norway, which is 73% more than the same period in 2020 *. In monetary terms, the volume of supplies increased by 60% to $ 153 million. Norway is the second largest buyer of Russian rapeseed oil after China. In the first four months of the year, 62 thousand tons of the product were delivered to the country, which is 74% more than in January-April 2020, in the amount of $ 59 million (+ 92%). Also, exports to Norway of meal and cake increased - 2.2 times to 34 thousand tons in physical terms and 3.7 times to 23 million dollars in monetary terms. The bulk of this volume fell on soybean meal and cake. Norway is an interesting market for Russian producers of vegetable oils and, first of all, rapeseed oil, Alexander Shenderyuk-Zhidkov, director of Sodruzhestvo Group of Companies, told Agroexport. Including among the importers of rapeseed oil "Sodruzhestvo" Norway accounts for 75%. “Norway is a ...

Source: Aemcx