Russia will increase exports of vegetable oils to Africa by almost 1.5 times

Refined Sunflower Oil

Refined Soybean Oil

Russia

Market & Price Trends

Published Dec 1, 2023

Tridge summary

This year, Russia plans to increase oil supplies to African countries by almost one and a half times, primarily due to an expected increase in sunflower oil exports. Sunflower oil has become a popular product in Africa, surpassing soybean oil in demand. The largest importer of these goods is Egypt, followed by Tunisia and Libya, with significant increases in their purchases.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

This year Russia plans to increase supplies of two types of oils to African countries by almost one and a half times, or by 273 thousand tons to more than 850 thousand. As the AgroTrend news agency writes, this forecast was voiced by Kirill Lozovoy, an analyst at the OleoScope information and analytical agency. According to the expert, the increase is primarily due to the expected increase in the export of sunflower oil by approximately 2.5 times. This more than compensates for the opposite situation with soy. He noted that the product is still a premium product for African consumers, but demand for it is gradually growing. So far, the most popular type of oil for residents of the continent is palm oil, but it is not produced in our country. In general, in January-October, our country supplied 652,000 tons of products to the continent, or 206,000 more than in the same period last year. During this period, sunflower oil again contributed to success, exports of which increased from ...

Source: Rosng