Russia boosted vegetable oil production to a record level

27.08.2018

Total vegetable oil output in Russia in the 2017/18 season gained 3.3% and reached a peak level, reports UkrAgroConsult. 5098.7 KMT of vegetable oil was made in September-June against 4935.5 KMT in the same period a year ago. This year’s June production of vegetable oil also reached a record 453.4 KMT that is down 1.7% from the previous month but up 2.3% from June 2017.

Processing of all oilseeds rose this season. So, production of sunflower oil was up 2.3% year-on-year, while that of soybean oil gained 12% and rape oil production increased 25%.

Sunflower oil output for the whole of MY 2017/18 hit a maximum of 4107 KMT against 4013 KMT a year ago.

The current season continues to feature soybean oil production records. Thus, output in September-June 2017/18 hit a new high, totaling 614.4 KMT, or almost 12% more than in the same period last season. Soybean oil accounts for 12% of vegetable oil production. In June 2018 soybean oil production in Russia was up 11.5% on the month, at 67.7 KMT against 60.7 KMT in May. The upward trend in soybean crushing has been observed for a third month in a row.

Detailed analysis of the latest trends in oilseeds/vegoils/meals exports, palm oil imports, supply and demand balances with breakdown by crop as well as crop conditions and progress in planting/harvesting in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Vegoils" by UkrAgroConsult.

Examine the art of forecasting grain and oilseed prices, spreading and applying right hedging strategies for your business at the Specialized Workshop PRICE FORECASTING, SPREADING AND HEDGING STRATEGIES” within the VI International Conference Black Sea Oil Trade. Workshop will be held on September 19 in Aloft hotel (Esplanadna street 17), Kyiv, Ukraine.

The workshop will be based on the US market forecast model (corn-soybean), adapting methodology for Ukrainian market. Speakers have over 20 years of experience in grain trading, global agricultural market analysis, risk management and development of effective business strategies.

The seminar will be useful for traders, agri producers and market analysts, will feature practical tasks and cases.

 

UkrAgroConsult

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