By 2025/26 MY, the share of Russia in the global vegetable oils trade to rise to 15% - EFKO
In 2016/17 MY, Russia exported record volumes of vegetable oils in the contemporary history of the country - 2.9 mln tonnes, and by the season-2025/26 the figures may reach 5.4 mln tonnes, which will allow to Russia to increase its share in the global trade in the products from the current level of 11% to 15%, declared the Director for Strategic Development at EFKO Management Company CJSC, Vladislav Romantsev on October 11.
According to him, Russia has everything for realization of the plan: modern high-tech processing capacities, which to date are able to process nearly 24 mln tonnes of oilseeds, well-developed domestic port logistics, primarily on the Taman Peninsula, as well as rather favourable weather and climatic conditions for cultivation of oilseed crops.
Also, V.Romantsev stressed that Russian agrarians should focus on further increasing of oilseeds production volumes. The expert recalled that to date several branch associations, together with the Ministry of Agriculture, are developing a special program to increase oilseeds production in the country, taking into account various regional specific features and establishment of modern agricultural technologies.
Realization of the program will increase the harvest of oilseed crops in Russia to 24 mln tonnes by 2025, which is a very realistic figure, V.Romantsev said.
According to the expert, generally by 2025/26 MY the global trade volumes of liquid vegetable oils (excluding tropical oils) will reach 36 mln tonnes, including 42% of soybean oil, 41% of sunflower oil, 15% of rapeseed oil, and 3% of other vegetable oils.
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