China became the top importer of Russian soybean oil

09.01.2018

Russia exported 44 KMT of soybean oil in November 2017 that was the largest volume for this month. The shipments gained almost 48% against October and over 84% against November 2016. Overall, 2017/18 export statistics shows a 9% drop year-on-year. So, 114.9 KMT of soybean oil was exported in the first three months of the current season against 126.4 KMT at the same time last marketing year.

In the current 2017/18 season, China replaced Algeria as the top importer of Russian soybean oil. Consequently, the Chinese share of the market expanded to 45%, while Algeria’s share shrank to 37%, reports UkrAgroConsult.

In addition, no more soybean oil was shipped to Venezuela and Tunisia, but its deliveries to the EU (13% of total exports) gained almost a quarter.

 

UkrAgroConsult

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