Russia in 2023/24 MY can export a record volume of key vegetable oils

Published Aug 1, 2023

Tridge summary

According to Oil World, Russian exports of vegetable oils are predicted to reach a record 6.38 million tons in 2023/24. Sunflower oil exports will reach 4.37 million tons, surpassing the current season and the previous year. China will be a major market for rapeseed oil, with exports expected to increase to 1.32 million tons. Soybean oil exports are also expected to rise to 0.69 million tons in the same period.

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

Original content

According to Oil World (Germany) forecasts, the export of key vegetable oils from the Russian Federation in 2023/24 MY may increase to a record 6.38 million tons. In particular, the export of sunflower oil will renew its maximum and reach 4.37 million tons, which is 250 tons higher than the current season and 1.2 million tons - the result of 2021/22 MY. The main sales markets will be China, India, Iran, Iraq, Turkey, Egypt and several African countries. Shipments of rapeseed oil in MY 2023/24 will increase to 1.32 million tons (in the previous season - 1.30 million tons; in MY 2021/22 - 0.9 million tons). It is expected that the products will be mainly shipped to China. Experts explain such assumptions by the high ...

Source: Oilworld