Russia continues exporting soybean oil at a record pace


Russia exported 53.8 KMT of soybean oil in March 2017, or almost 53% more than in the previous month (35.2 KMT) and up 86% from March 2016. Greater volumes were only exported in October 2016, when a record 63.2 KMT was shipped abroad, UkrAgroConsult.

This season’s overall export statistics continues showing record-high figures. So, roughly 297 KMT of soybean oil was exported from September till March 2016/17, or 19% more than in the same period last season (249.4 KMT).

The top importers of Russian soybean oil in the current 2016/17 season include Algeria (152.9 KMT or 51% of total exports), Tunisia (32.5 KMT or 11%) and Cuba (29.7 KMT or 10%). Noteworthy is that China remains a major importer of soybean oil, although it decreased this product’s purchases from Russia to 28.4 KMT against 35.5 KMT a year earlier. In addition, the current season features an expansion of the range of Russian soybean oil export destinations. It was joined by countries such as Saudi Arabia, Venezuela, Rwanda, Haiti and Yemen.



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