Russia. One-third of July’s rape oil exports went to China

24.09.2018

In the new 2018/19 season, July’s rape oil exports from Russia hit a record high of 40 KMT. They increased 75.4% against 22.8 KMT in July 2016/17. The rise in exports was promoted by an active beginning of the new season along with a rapid pace of new-crop oilseed crushing, reports UkrAgroConsult.

Although the range of export destinations of Russian rape oil somewhat narrowed in the new season, July’s export statistics set a new record owing to greater purchases by traditional importers. So, shipments to Norway gained 28.3% against the beginning of last season and those to the EU were up 26.3% year-over-year. The most significant surge is observed in exports to China, which boosted purchases to 12.1 KMT versus 0.3 KMT a year ago. Thereby the country became the second biggest importer, with an export share of 30%.

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.

 

UkrAgroConsult

 

 

Readers choice: TOP-5 articles of the month by UkrAgroConsult