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Vegetable oil production in Russia will grow by 17% this season

Published May 23, 2023

Tridge summary

Russian oil extraction businesses are projected to produce over 8.8 million tons of vegetable oil this season, marking a 17% increase from the previous season, according to the Oil and Fat Union of Russia. The production of sunflower oil is expected to reach 6.29 million tons, an increase of 7%, while soybean oil and rapeseed oil are projected to increase by 32% and 62% respectively. The production of niche oils such as linseed, mustard, and camelina oil is also expected to increase. The export of raw materials and a record harvest have contributed to the increase in oil production, and the trend is expected to continue throughout the season.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

It is expected that more than 8.8 million tons of this product will be produced According to the results of the current season (September 2022 - August 2023), Russian oil extraction enterprises can produce more than 8.8 million tons of vegetable oil of all types, which is 17% higher than the level of the 2021/22 season. Such a forecast was announced to the Agrotrend portal by Mikhail Maltsev, Executive Director of the Oil and Fat Union of Russia. According to him, by the end of summer, the production of sunflower oil in the Russian Federation will reach 6.29 million tons (+ 7% per year). The output of soybean oil will increase to 975 thousand tons (+32%), rapeseed oil - up to 1.4 million tons (+62%). Over the seven months of the 2022/23 season, an increase in the production of oils has already been recorded in Russia, Maltsev points out. From September 2022 to March 2023, the figure increased by 16%, reaching 5.19 million tons. “This was facilitated by both a record harvest and ...
Source: Specagro
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