During several recent years, Russia dynamically increased the production volumes of major oilseeds and vegetable oils. For 3 recent seasons, the domestic consumption of the commodities in Russia remained at nearly stable level, while the exports of crude vegetable oils demonstrated a steadily upward trend — from 1.7 mln tonnes in 2015/16 MY, to 2.6 mln tonnes in 2017/18 MY, declared the Vegetable Oils and Oilmeals Trading Director at EFKO Group of Companies, Anton Gritsai during his report at the international conference Sunflower Oil & Meal Trade Conference on June 27.
Also, Russia demonstrated the growth of export rates in trading with crude sunflower oil. In 2016/17 MY, Russia exported nearly 1.7 mln tonnes of the product, which broke a record. In 2017/18 MY, the exports will remain at the last season level. As of early June 2018, Russian exporters already supplied nearly 1.6 mln tonnes of crude sunflower oil on the global market, said the speaker.
Turkey, Egypt, Iran, China and Kazakhstan are the main buyers of Russian crude sunflower oil, added A.Gritsai.
At the same time, it is worth noting development of trading in the market segment between Russia and China. So, if in 2014/15 MY the exports of crude sunflower oil from Russia to China totaled 21 thsd tonnes only, then in 2015/16 MY and 2016/17 MY the figures reached 128 thsd tonnes and 99 thsd tonnes, respectively. It is expected that in 2017/18 MY the supplies of crude sunflower oil from Russia to China will exceed 150 thsd tonnes.
According to EFKO estimations, the forecast of crude sunflower oil production in Russia in 2017/18 MY totals 4.5 mln tonnes, while the exports will reach more than 1.7 mln tonnes.
You can become acquainted with the most important events of the conference from the news line at our web-site.