The main directions of trade in oil and fat products from Russia
Russia
Published Mar 25, 2022
Tridge summary
The supply of oil and fat products to the countries of Central Asia is of interest for the development of Russia's export activities. With a decrease in partnership with Western countries, the Ministry of Economic Development stated that the Russian Federation would increase trade and economic ties with other countries, primarily with Asian countries, especially with regard to agricultural food products. Vegetable oils The export of oils to the Asian market over the past three years has increased by about 6% - from 3.12 million tons (2019) to
Original content
3.32 million tons (2021). The dynamic growth of population and income in developing countries stimulates an increase in demand for the product. The main share of world exports falls on four types of oil: palm, soybean, sunflower and rapeseed. According to the Federal Customs Service of Russia, by the end of the reporting period, Turkey became the main market for vegetable oils produced in the Russian Federation, which in 2019 was only in third position, behind the leader (China) in imports of about 330 thousand tons. The situation has changed: if three years ago about 500 thousand tons of oil were sent to the territory of the West Asian state, then by 2021 this figure has almost doubled - up to 915 thousand tons. The opposite situation is observed with China, which in 2020 purchased 1.4 million tons of oil from Russia, and in 2021 reduced import volumes to 778 thousand tons and dropped to the second position in the ranking of major importers. The third line has been stably ...
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