Russia: Buryatia vegetable oil plant to supply rapeseed and flax processed products to China

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Crude Canola Oil & Rapeseed Oil

Published Mar 26, 2024

Tridge summary

A new factory dedicated to processing linseed and rapeseed has been inaugurated in the Republic of Buryatia, Russia, marking a significant development in the region's agricultural sector. The ceremony saw the presence of Deputy Chairman Garsan Dareyev and Chinese investors, highlighting the international interest in the project. With an initial investment of over 200 million rubles, the factory aims to process 100 tons of seeds daily, with ambitions to increase this capacity to 300 tons by the end of 2025, supported by a total investment projected at 900 million rubles. The factory's output, particularly rapeseed oil and linseed oil, is expected to be primarily exported to China, which is anticipated to be the largest buyer of Russian rapeseed oil in 2023, absorbing 86% of the exports. Additionally, Buryatia plans to cultivate rapeseed and flax across 3,200 hectares, with the factory committing to purchase the entire yield, underscoring the strategic importance of this venture for local agriculture and the broader Russian-Chinese trade relations.

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

Deputy Chairman of the Government of the Republic of Buryatia Garsan Dareyev and Chinese investors attended the opening ceremony of the factory. The investment in the first phase of the factory exceeds 200 million rubles (15.36 million yuan), and the initial processing capacity of linseed and rapeseed will reach 100 tons per day. By the end of 2025, it is planned to launch the second phase of the factory, after which the company will process 300 tons of seeds per day. .Media reports indicate that the total investment is approximately 900 million rubles (70 million yuan). Media reports said rapeseed oil and linseed oil and other products from processing these oil crops will be sold to China. It is also reported that in Buryatia, rapeseed and flax will be grown on 3,200 hectares for the first time and the factory is ready to buy back the entire harvest. On January 16, the Russian Agricultural Products Export Company told Sputnik News that China would become the largest buyer of ...

Source: Foodmate