Russia: Oil and Fat Union warns oilseed producers to ship their crops for processing

게시됨 2024년 1월 11일

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Oil and fat enterprises in Russia are urging oilseed producers to consistently ship their crops for processing in order to avoid increasing carryover stocks and putting pressure on prices, with 1.5-2 million tons of new processing capacity introduced annually. Sunflower reserves in agricultural organizations were 3.7% higher than the previous year at the end of November 2023, leading to an overabundance of oilseeds and incomplete utilization of processing capacity due to farmers holding back sales in anticipation of better prices. Despite record harvests of sunflower, soybeans, and rapeseed in 2023, the export potential of oil and fat products from the Russian Federation is expected to break the previous season's record in the 2023/2024 season, with an estimated export potential above 4 million tons.

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Oil and fat enterprises in Russia urge oilseed producers to rhythmically ship their crops for processing so as not to increase carryover stocks of raw materials, which put pressure on prices, said Mikhail Maltsev, executive director of the Fat and Oil Union of Russia. “We are waiting for a more balanced policy on the part of oilseed producers; for our part, we will try to process everything,” he said, noting that 1.5-2 million tons of new processing capacity are introduced annually. According to Rosstat, at the end of November 2023, sunflower reserves in agricultural organizations were 3.7% higher than a year ago and amounted to 7.2 million tons versus 6.9 million tons. Maltsev notes that the negative factor of high carryover stocks of oilseeds persists, starting from season 2020/2021. He attributes this to farmers’ policy of holding back sales in anticipation of better prices. According to him, at the beginning of the 2021/2022 season (February-March), the utilization of ...

출처: Oilworld