The US Department of Agriculture raised its forecast for exports of vegetable oils from Russia

In the November forecast, the Foreign Agricultural Service of the US Department of Agriculture (FAS USDA) increased the forecast for the production of vegetable oils in Russia in the 2023/24 season to 9.17 million tons (in the report for last month - 9.03 million tons). Oil exports will amount to 6.28 million tons (6.17 million tons). The sunflower harvest, according to the forecast of the service, will be 17.5 million tons (the same as in the last report), oil production - 6.77 million tons (6.77 million tons), exports - 4.27 million tons (4.05 million tons ). According to estimates by the Institute for Agricultural Market Studies (IKAR), the export of sunflower oil this agricultural year could amount to 4.77 million tons, rapeseed oil - 1.5 million tons, soybean oil - 800 thousand tons, flaxseed oil - only 30 thousand tons. ICAR General Director Dmitry Rylko points out that recently the institute has practically not changed its forecasts. Kirill Lozovoy, an analyst at the ...