Palm oil imports to Russia decreased by 18% against last year

30.03.2017

Russia purchased 66.7 KMT of palm oil in February 2017, or almost twice as much as in the previous month (34.4 KMT). However, its imports dropped by 33% against February 2016 (99.8 KMT).

In total, Russia imported 417.5 KMT of palm oil for the six months of MY 2016/17, down 18% year-on-year, reports UkrAgroConsult. As a reminder, palm oil imports hit a record 510 KMT in the same period last year.

Traditionally, Russia’s main supplier of palm oil is Indonesia with an import share of 76%, but the current season features a drop in deliveries to 318.4 KMT against 436.8 KMT a year ago. The other two top suppliers of this product, on the contrary, expanded their market shares. Over the six months, Malaysia gained the second place - 11%, having outstripped the Netherlands with 10%. Noteworthy, palm oil imports from Malaysia increased almost 74%.

 

UkrAgroConsult

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