Russia: The oilseed results in 2021

• Record high yield of three key oilseeds in the world; • Record high sunflower harvest in the world; • Record high prices for rapeseed in the world; • Prices for essential oils close to record levels from a decade ago; • Record harvests of all major oilseeds in Russia; • Prohibitive, in fact, export duties on the export of raw oil; • Threat of record high end-of-season carryover stocks; • Preliminary assessment of IKAR: In 2021, for the first time, Russia may take the 1st place in the world in the production of oil flax. The year 2021 is ending with significant events for the oil and fat industry of the Russian Federation: a few days ago, the preliminary results of the harvesting campaign were published, which officially confirmed the record harvest for all major crops. The final results will be known to the market in March, however, it can already be stated that despite the relatively low yield in the European territory of the country, Russian farmers harvested at least 15.54 ...