Russia: Export of fat and oil products will exceed $7 billion
Russia
Published Dec 31, 2021
Original content
According to the forecast of the Fat and Oil Union, in 2021 the export of fat and oil products from Russia will exceed $ 7 billion against $ 5 billion a year earlier. The executive director of the union, Mikhail Maltsev, noted that this year the export of the industry has significantly "gained" in value terms due to a significant increase in prices on the world market. Self-sufficiency in fat and oil products exceeds 100%, therefore 43% of the volume of manufactured products was exported to 104 countries. The leaders in the import of Russian fat and oil products in 2021 were China (1.7 million tons), Turkey (1.2 million tons), Iran (720 thousand tons), Belarus (685 thousand tons) and Latvia (463 thousand tons ), gives the data union. At the same time, the production of fat and oil products decreased by 7% by the end of the year. The reasons for the reduction were the low sunflower harvest in 2020 and the speculative restraint of the sales of oilseeds of the new crop by ...
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