Russia reduced soybean oil exports almost 4 times in October

In October, the Russian Federation exported $21.9 million worth of soybeans to China, which is two times less than in the same month last year ($44.2 million), according to the State Customs Administration of China. Over ten months, supplies have also decreased more than twofold - to $284.4 million from $590.8 million a year earlier. In January-October, China purchased soybeans from 15 countries. The largest suppliers were Brazil ($33 billion), the United States ($8.6 billion), and Argentina ($1.8 billion). This year, Russian soybean oil exports were also less than last year. In October, they amounted to $7.1 million, which is almost four times less than a year earlier ($28.2 million). But over 10 months, the decline dynamics were not so strong - to $112.8 million against $120.8 million, respectively. According to the OleoScope analytical center, China is the absolute leader in soybean oil production. Last year, production increased by 3% to 17.7 million tons. Analysts expect it ...