Russia: Export of vegetable oil this season may grow by 28%

OleoScope analyst Kirill Lozovoy predicts that this season Russia will export over 5.9 million tons of vegetable oil, which is 28.3% more than in the previous season (4.6 million tons). He said this at the international grain round "Grain Market - Yesterday, Today, Tomorrow", Finmarket writes. However, the analyst notes that exports could be higher, the final picture is affected by the situation with world prices for oils and relatively sluggish demand from major importers. Since the beginning of the season, Russia has increased the export of vegetable oil by 10%, to more than 3.6 million tons. Over the eight months of the current season, 556 thousand tons of sunflower oil were supplied to China against 71 thousand tons in the same period last season. Turkey reduced purchases from almost 700 thousand tons to 342 thousand tons. India occupies the third position in the ranking of the main importers of Russian sunflower oil, where supplies increased from 216 thousand tons to 280 ...