News

African countries account for about 14% of the total exports of Russian oils

Refined Sunflower Oil
Russia
Supply Chain Management
Refined Soybean Oil
Oil & Fats
Market & Price Trends
Published Nov 30, 2023

Tridge summary

Due to reduced supplies to unfriendly countries, Russian exporters have increased the export of vegetable oils to friendly African countries, resulting in a 53% increase in shipment volumes. Currently, African countries account for 14% of total Russian oil exports, with Egypt, Algeria, Sudan, and Tunisia being the main importers. However, barriers to further growth in the African market include issues with payment processing and logistics, as well as concerns about buyer solvency and competition with cheaper products.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

According to Maltsev, barriers to a serious increase in export volumes to Africa are both traditional for other directions issues with payment processing and the cost of logistics, as well as issues specific to the African continent - issues of buyer solvency.... Independent grain market expert Alexander Korbut also notes that the main limiting factor for the African market is prices and the solvency of local demand. “They get a better deal on cheap products there,” he adds. According to Korbut, the desire to increase shipments of sunflower oil to this market is natural, but you need to understand that this is not the key type of vegetable oil - palm and soybean oil have a large share in the world. Korbut says that now the main consumers of vegetable oils from Russia among African countries are Egypt (about 100 thousand tons, mainly sunflower, also soybean), Algeria (30 thousand tons of soybean), Tunisia (about 6 thousand tons of sunflower), Libya (2.5 thousand tons of sunflower). ...
Source: Oilworld
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.