Russia: oilseed crop forecast for MY 2018/19

12.06.2018

In present, fat-and-oil products play a key role in Russian exports and are in the top three of agricultural commodities in terms of foreign sales. The industry is known to face a task of boosting fat-and-oil exports by 2024-2025 and taking on new end markets. Its fulfillment directly depends on the industry’s raw material resources, because Russia is not short of processing capacities.

Initially, the Russian Ag Ministry’s plans for 2018 envisaged reducing sunflower plantings to 7.5 Ml ha and expanding the seeded areas of soybeans and rapeseed to 2.75 Ml ha and 1.05 Ml ha, respectively.

Meanwhile, the planted areas of sunflower and rape are already larger than forecast by the Ag Ministry, though this work is not over yet, reports UkrAgroConsult.

While sunflower plantings exceed the plan by 2.2%, the seeded area of rape is already up as much as 22% from 2017. Sunflower plantings total 7727.6 Th ha against 7234.2 Th ha a year ago. The rape acreage equals 1278.8 Th ha against 853.3 Th ha in 2017.

UkrAgroConsult builds its first estimates for the Russian oilseed crop upon the following five-year average yields and expects high oilseed crop in the season of 2018/19 also due to expansion of plantings.

Full version of the article is available to subscribers for “Online market review” by UkrAgroConsult.

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

Further prospects of the Black Sea oilseeds/vegoils market will be discussed at the VI International Conference “Black Sea Oil Trade”, which will take place on September 20, 2018 in Hilton hotel, Kiev, Ukraine.

 

UkrAgroConsult

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