In the midst of a pandemic, Russia reduced imports of palm oil
RBD Palm Oil
Published Aug 29, 2020
Tridge summary
In the first six months of 2020, palm oil imports to Russia decreased by almost 7%, the Rosselkhozbank's Center for Industry Expertise told RBC.
Original content
If in the first half of 2019 Russia imported 506 thousand tons of palm oil, then for the same period of this year - only 473 thousand tons. The negative dynamics of supplies in the first half of the year was also confirmed by the Oil and Fat Union of Russia. The decreased import of palm oil is an event, because the average annual negative dynamics is not typical for the import of this product, says Andrey Dalnov, head of the Center for Industry Expertise of the Russian Agricultural Bank. The last time a noticeable decrease in imports by 5% occurred at the end of 2014 - then it was associated with a sharp change in the exchange rate of the national currency, explained the interlocutor of RBC. The downward trend in imports of palm oil was evident in the second half of 2019, but this time without any currency fluctuations. The supply of palm oil to the country has been growing since the late 1990s: during this time they increased more than tenfold - to a record 1.06 million tonnes at ...
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