Sunflower oil output in Russia grew by 14% in 2022

Published 2023년 3월 17일

Tridge summary

In 2022, Russia experienced a significant increase in the production of sunflower, soybean, and rapeseed oil, with sunflower oil production rising by 14% to 5.9 million tons, soybean oil by 16.2% to 825.1 thousand tons, and rapeseed oil by 35.6% to 998.5 thousand tons. This increase is attributed to higher yields and expanded acreage. The gross harvest of main oilseeds also saw a 17% increase, reaching 29.1 million tons. Additionally, Russian oilseed exports grew by over 40% compared to 2021, with China, Belarus, and Kazakhstan as the main buyers. However, the export prices for sunflower oil have seen a decrease, dropping by 15% over the past two months, reaching their lowest level in 2.5 years. Furthermore, a surplus of sunflower residues has formed due to farmers restraining sales in the first half of the season, putting further pressure on prices.

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Original content

The production of sunflower oil in Russia in 2022 increased by 14% compared to 2021, to 5.9 million tons. The production of soybean oil increased by 16.2% to 825.1 thousand tons, rapeseed oil - by 35.6% up to 998.5 thousand tons, according to the Ministry of Agriculture. According to the department, the record harvest contributed to the growth in the production of vegetable oils. The gross harvest of the main oilseeds reached 29.1 million tons in net weight last year, which is 17% higher than in 2021. Including sunflower harvest amounted to 16.4 million tons (+4.5%), soybeans - 6 million tons (+26%), rapeseed - 4.5 million tons (+61.6%). The increase in production volumes was ensured by increasing the yield. Another factor is the expansion of acreage. This year, the Ministry of Agriculture plans to further increase the sowing of rapeseed and soybeans. According to the Ministry of Agriculture, the export of Russian oilseeds has also grown - by more than 40% compared to 2021. Among ...

Source: Oilworld