The US Department of Agriculture raised the forecast for exports of sunflower oil from Russia

Published 2023년 3월 9일

Tridge summary

The US Department of Agriculture's Foreign Agricultural Service has increased its forecast for Russian sunflower oil exports to a record 4 million tons, a 150,000-ton increase from the previous estimate and 900,000 tons more than the 2021/22 season. This growth is due to higher export rates, with the supply of sunflower meal potentially reaching 2.2 million tons and carry-over stocks of sunflower oil at 588 thousand tons. Russia's basic vegetable oil exports for the 2022/23 season are expected to reach 5.77 million tons, with soybean oil making up 650 thousand tons. The export of fat and oil products has increased by 31% compared to the 2021/22 season, with the potential for Russia to become the world leader in sunflower oil exports, increasing its supply to the world market by 45%, or up to 4.3 million tons. However, export prices for sunflower oil have been stabilizing after a decline due to high stocks in India, reduced demand from Turkey, a high volume of supply from Russia and Ukraine, and an expected increase in supply from Argentina.

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Original content

It can reach a record 4 million tons The Foreign Agricultural Service of the US Department of Agriculture (FAS USDA) increased the forecast for the export of Russian sunflower oil. According to analysts, it will amount to 4 million tons, which is 150 thousand tons higher than the previous estimate and 900 thousand tons more than in the 2021/22 season. The growth is explained by higher export rates, the FAS USDA March report says. The supply of sunflower meal may be at the level of 2.2 million tons. At the same time, carry-over stocks of sunflower are estimated at 588 thousand tons, or 370 thousand tons less than a year earlier. Export of basic vegetable oils from Russia in the 2022/23 season, according to the forecast, may amount to 5.77 million tons (5.54 million tons in the previous forecast, 4.45 million tons for the 2021/22 season), of which 650 thousand .t — soybean oil (575 thousand tons and 480 thousand tons, respectively). According to the OleoScope information and ...

Source: Specagro