Russia will increase exports of vegetable oils to Africa by almost 1.5 times
Refined Sunflower Oil
Refined Soybean Oil
Market & Price Trends
Published Dec 1, 2023
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.
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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 178,000 to 419,000 tons. Lozovoy clarified that Russia supplies the main supplies to the regions of North Africa. By solving problems with logistics, he said, the list of such countries will be expanded. He also did not rule out expanding the range of supplied oil and fat products. The expert named margarine as one example of potential future products. In October, global soybean oil exports hit a 10-year low. The largest importer of the above-mentioned goods was Egypt with 303 thousand tons, which is 2.2 times ...