Export of vegetable oils from Russia increased by 23%

Published 2023년 4월 21일

Tridge summary

The article reports a significant increase in the export of vegetable oils, including sunflower oil, soybean oil, and rapeseed oil, for the January-March 2023 period, with China, India, and Turkey being the main buyers. Despite the increase in overall oilseeds export, sunflower seed exports saw a 28% decrease, primarily to EAEU countries, while soybean exports rose by 29% to China. Rapeseed exports experienced a 153% increase, with the majority going to Belarus and China. Flax seed exports also saw a 29% increase, with China as the leading buyer. The export of vegetable meals also increased by 2%, with changes in the buyers' preferences for different types of meal. Margarine products exports saw a 26% decrease, with Kazakhstan becoming the new leader in purchases, while mayonnaise products exports increased by 8%, with Kazakhstan as the main buyer.

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Original content

The estimated export of vegetable oils for January-March 2023 amounted to 1.53 million tons, which is 23% higher compared to the same period last year, Prombiznes reports citing analysts. During the reporting period, the export of sunflower oil increased by 21% to 993 thousand tons, the share in the export structure of vegetable oils amounted to more than 65%. The main buyers are China (296 thousand tons), India (120 thousand tons) and Turkey (119 thousand tons). Exports of soybean oil for the first quarter of 2023 decreased by 14% to 152 thousand tons. The leaders in the purchase of soybean oil were Algeria (82 thousand tons) and Egypt (29 thousand tons). The export of rapeseed oil for the period under review amounted to 377 thousand tons (+61% compared to the same period last year). Over 90% were sent to China. For the first quarter of 2023, according to analysts, the export of oilseeds increased by 45% compared to the same period last year and amounted to 972 thousand tons. In ...

Source: Oilworld