EU duties will not affect the export of oil and fat products from the Russian Federation - Maltsev

Oil & Fats

Regulation & Compliances

Market & Price Trends

Published Mar 28, 2024

Tridge summary

Mikhail Maltsev, the executive director of the Oil and Fat Union, has stated that the potential introduction of duties on Russian agricultural products by EU countries is unlikely to affect Russia's export of oil and fat products. He emphasized that Russia's main export markets for these products are in friendly countries across Asia and Africa, such as China, India, Algeria, Egypt, and Turkey. Maltsev pointed out that the European market plays a minor role in Russia's fat and oil product exports, with only small volumes of meal and oilseed flax being exported to the EU, and products like sunflower oil and highly processed items being rare exceptions. This comes as the EU considers imposing export duties on agricultural products from Russia and Belarus as part of geopolitical measures.

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

The introduction of duties on Russian agricultural products by EU countries will not in any way affect the development of Russian exports of oil and fat products. As the magazine field.rf writes, this was stated by the executive director of the Oil and Fat Union and member of the ROSNG Expert Council Mikhail Maltsev. The expert recalled that our country carries out the main deliveries of MVP mainly to friendly countries. Their list includes poor and more developed countries in Asia and Africa such as China, India, Algeria, Egypt, Turkey and several others. Read also It will be difficult for Europe to replace oilseed products from Russia - experts Maltsev called the European market not very promising and reliable in terms of supplies of fat and oil products. Our country supplies only small volumes of meal and oilseed flax to the European Union. Sunflower oil and highly processed products are almost never imported there. The expert named Estonia as one of the ...

Source: Rosng