In 2023/24 MY, Russia can export more than 7 mln tonnes of vegoils – forecast




Exports of vegetable oils from Russia may exceed 7 mln tonnes in 2023/24 MY (September – August). This forecast was expressed by Andrey Kucherov, Deputy Director of the Federal Center “Agroexport” under the Ministry of Agriculture of the Russian Federation, TASS reports.

He also noted that last season Russia exported a record volume of vegoils – the figure approached the level of 7 mln tonnes, which is 44% higher than the figure in the previous season.

“First of all, such indicators are related to the development of exports to China and India,” noted A. Kucherov.

Thus, in 2023, supplies of Russian sunflower oil to China increased by 3.6 times, and rapeseed oil by more than 2 times. Sunflower oil exports to India have doubled.

“We have become the largest suppliers of sunflower oil to China, Turkey and India, and took first place in Chinese imports of rapeseed oil,” the expert emphasized.