Vegetable oil production in Russia will grow by 17% this season, forecast

Published 2023년 5월 23일

Tridge summary

Russia's vegetable oil production is projected to increase by 17% in the 2022/23 season, reaching 8.824 million tons, with sunflower oil, soybean oil, and rapeseed oil seeing the highest increases. The Oil and Fat Union of Russia anticipates sunflower oil production to rise by 7% to 6.29 million tons, soybean oil production to rise by 35% to 975 thousand tons, and rapeseed oil production to rise by 62% to 1.4 million tons. This growth is attributed to a record harvest and the preservation of export duties. Russia may become the world's largest exporter of sunflower oil this season, with deliveries expected to increase to 3.9 million tons.

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

Original content

The volume of production of all types of vegetable oils in Russia at the end of the 2022/23 season (September 2022 - August 2023) will increase by 17% compared to the previous MY and amount to 8.824 million tons, an increase is expected for all types. Mikhail Maltsev, executive director of the Oil and Fat Union of Russia, informed Agrrotrend about this forecast. The union expects the production of sunflower oil this season to be at the level of 6.29 million tons, which is 7% more than the previous season. The output of soybean oil is expected to be 975 thousand tons against 736 thousand tons a year earlier. The output of rapeseed oil will grow by 62% to 1.4 million tons. The volume of production of linseed oil, according to the MZHSD, will amount to 80 thousand tons at the end of the season against 35 thousand tons last season, camelina oil - 4 thousand tons against a small production last season, mustard oil - 9 thousand tons against 8 thousand tons a year earlier. Another 72,000 ...

Source: Oilworld