In 2023, the export of linseed oil from Russia may increase several times

Published Mar 27, 2023

Tridge summary

In 2023, Russia is projected to see a significant increase in linseed oil exports and a decrease in flax exports, driven by a 15% rise in oilseed flax production and a 1.5-fold increase in processing volumes. The country has been experiencing steady growth in the production and export of flax oilseeds and linseed oil in recent years, with China and Turkey being major buyers. Despite the lack of domestic processing and low domestic consumption, the demand for oilseed flax on the global market has led to a surge in its production and expansion, especially in Siberia.

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Original content

In 2023, the volume of exports of linseed oil from Russia may increase several times, while the export of flax abroad as a raw material will decrease. This opinion was expressed by the executive director of the Oil and Fat Union of Russia Mikhail Maltsev, whose words are quoted by the Agroexport center under the Ministry of Agriculture. According to him, in 2023, the production of oilseed flax may increase by 15% both due to the expansion of crops and the improvement of cultivation technologies. The union also expects a 1.5-fold increase in processing volumes, that is, the production of linseed oil at a level of more than 50 thousand tons. According to Agroexport, in recent years, Russia has been increasing the production and export of flax oilseeds and linseed oil. In 2022, the physical volume of supplies of oilseed flax increased by 46%, export revenue - by 33%. Linseed oil shipments showed growth of 31% and 36%, respectively. The largest buyer of oil flax is China, which ...

Source: AgroInvestor