In the 2023/24 season, Russia exported almost 7.2 million tons of vegetable oils

Published Sep 27, 2024

Tridge summary

In the 2023/24 season, Russia achieved a significant success in vegetable oil exports, with a total volume of approximately 7.2 million tons, marking a 14.5% increase from the previous season. The exports were dominated by sunflower oil, with a volume of 5.2 million tons, followed by rapeseed oil at 1.2 million tons and soybean oil at 757 thousand tons. This places Russia as the third-largest exporter of vegetable oils globally, with a 8% market share, and the largest supplier of sunflower, rapeseed, and soybean oil, accounting for 20% of the global supply. Additionally, the export of plant meals also saw a 15% increase, reaching 4.2 million tons. The season also marked a record harvest of oilseeds and record production of oil and fat products.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This is almost 15% more than in the previous season Export of all types of vegetable oils from the Russian Federation in the 2023/24 season (ended on August 31) amounted to about 7.2 million tons, of which 5.2 million tons were sunflower oil, 1.2 million tons were rapeseed oil, and 757 thousand tons were soybean oil. The Oil and Oil Union of Russia (Oil and Oil Union of Russia) told pole.rf about this. “Based on the results of the completed 2023/24 season, Russia ranks 3rd as an exporter of vegetable oils to the world market, with a share of 8%, behind Indonesia and Malaysia, the main suppliers of palm oil. At the same time, our country holds the palm in terms of the total volume of sunflower, rapeseed and soybean oil supplies to the world market, the share of domestic products is 20%,” commented Mikhail Maltsev, Executive Director of the Union. According to the information from the Ministry of Agriculture, the export of plant meals for the completed season also increased by 15% ...

Source: Specagro