Russia boosted vegoil production by 63% over six years

03.04.2017

According to the first deputy ag minister, vegoil production in Russia has expanded by 63% over the last six years to 5.1 MMT in 2016, including 2.5 MMT exported.

Last year imports of fat-and-oil products amounted to 91 KMT, while their exports were at 252 KMT (they totaled 108 KMT and 224 KMT, respectively, in 2015).

“We are planning to have fat-and-oil product exports up at USD 3.5 Bl by 2025. At the same time, we forecast entering new markets, including Asian-Pacific countries,” said the deputy ag minister.

He added that, despite the steady production upturn in the fat-and-oil sector, its further development may be hampered by a number of problems. The most acute one is a feedstock shortage risk in view of the existing production capacities.

Further prospects of the Black Sea oilseeds/vegoils market will be discussed at the V International Conference “Black Sea Oil Trade”, which will take place on September 19, 2017 in Hilton hotel, Kiev, Ukraine.

 

UkrAgroConsult

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