Russia has reduced imports of palm oil 15.8%

20.06.2017

The import of palm oil in Russia in I quarter of 2017 decreased by 15.8%

In the first quarter of 2017, the import of palm oil in Russia was 15.8% lower than the corresponding period in 2016 and 196.6 thousand tons ($166 million).

Overall, however, the volume of imports in January-March, average annual values, and a lower volume of imports relative to 2016 are attributable to record palm oil imports in February 2016 (99.8 thousand tonnes).

While the value of imports in 2017 ($166 million) exceeds the value of 2016 9.3% due to the continued higher level of prices for palm oil.

In the first quarter of 2017 price level of imported palm oil has continued to rise. The average contract price for imported supplies in March 2017 $ 865 USD/MT (+3.7% per month), remaining above the level of March 2015 ($766/MT) and 2016 ($668/MT) years


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