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Russia: Oilseed exports fell by a third, oils grew by 10%

Published Sep 17, 2024

Tridge summary

Export of oilseeds in the first eight months of the year decreased by 33% compared to the same period last year, with sunflower, soybean, rapeseed, and flax seed exports experiencing various decreases in volume. However, the export of vegetable oils increased by 10% and the export of meals increased by 7%. The article also discusses challenges the industry may face, including potential reduction in harvest, competition for crops, and unplanned barriers from importers such as duties and bans.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the first eight months of this year, the export of oilseeds decreased by 33% compared to the same period last year and amounted to 1.93 million tons, according to OleoScope analysts. In particular, the volume of sunflower exports amounted to 186 thousand tons, which is 13% less than exports for the same period in 2023. More than 85% of supplies went to the EAEU countries. Soybean exports amounted to 584 thousand tons - compared to January-August 2023, the volumes decreased by 34%. The main buyer was China (478 thousand tons). Rapeseed exports for the eight months of 2024 amounted to 457 thousand tons (minus 29% compared to the same period last year). Almost the entire volume was sent to Belarus and China. Flax oil seeds were exported 640 thousand tons (minus 34% compared to the same period last year). China and Belgium became the leaders in purchases, OleoScope cites data. At the same time, the company's analysts estimated the export of vegetable oils for the first eight months ...
Source: AgroInvestor
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