According to preliminary estimations of APK-Inform Agency, in 2019/20 MY the domestic consumption of sunflower oil in Russia will total nearly 47%, and the share of exports — 49%.
According to the oilseed analyst at APK-Inform Agency, Svitlana Kirichok, the situation developed, due to the relatively stable domestic consumption of sunflower oil in Russia, in terms of the growing rates of production and shipments on foreign markets.
It should be noted rather interesting point — for the first time in the history of production, last season the export volumes of sunflower oil from Russia were equal to the domestic consumption, and reached almost one half of the total supply of the product on the domestic market, the analyst explained.
At the same time, in the new 2019/20 MY the growth of sunflower oil production will possibly vary almost at the level of the previous season. The figures will increase mainly at the expense of the growth of loading rates of the existing sunflower seed processing lines.
APK-Inform estimations total 5.4 mln tonnes, up 8% compared with 2018/19 MY, and up 18% compared with 2017/18 MY, S.Kirichok added.
You can read more detailed information about development of the reporting market segment in Russia in the article "Russian sunflower oil: growth of the exports, following the production and global demand" in the weekly issue Agrimarket Weekly #46 dd. November 25, 2019.