Fat-and-Oil Union of Russia proposes limiting oilseed exports

25.06.2018

Rapeseed and soybean exports from Russia have hit record highs this season. Therefore, representatives of the Fat-and-Oil Union propose limiting oilseed supplies to foreign markets and taking all measures needed for this, reports UkrAgroConsult.

In the opinion of the Union’s executive director Mikhail Maltsev, the introduction of oilseed export quotas could be a potential emergency measure.

Experts forecast that soybean exports may rise by 20% this season, to over 826 KMT.

Over 100 KMT of soybeans a month were shipped abroad in February-March 2018. An all-time record of 131 KMT was set in April. The largest export share is accounted for by China (95%). In addition, shipments were made to Iran, Kazakhstan, and Belarus.

Remarkably, China prefers purchasing Russian soybeans, not soybean meal, thereby stimulating its crushing industry.

Rapeseed exports increased almost four times this season. Roughly 46% of this commodity is supplied to China. In addition, Russian rapeseed is purchased by Mongolia, Belarus, Nepal, Germany, and Bangladesh.

More detailed information on the latest trends in oilseeds/vegoils/meals exports, supply and demand balances with breakdown by crop in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Vegoils" by UkrAgroConsult.

Further prospects of the Black Sea oilseeds/vegoils market will be discussed at the VI International Conference “Black Sea Oil Trade”, which will take place on September 20, 2018 in Hilton hotel, Kiev, Ukraine.

In 2017 International Conference «Black Sea Oil Trade» attracted 250 delegates from 25 countries and 150 companies. Conference participants are usually represented by producers and crushers of oilseeds, traders, enterprises for deep processing of vegetable oils, investment companies, banks, law, shipping, brokerage, insurance and surveyor companies.

 

UkrAgroConsult

 

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