Russia reduced palm oil purchases by 19%

28.04.2017

Palm oil purchases by Russia totaled 61.4 KMT in March 2017, down almost 8% from February (66.7 KMT) and down 26% against March 2016 (83 KMT). Altogether, Russia imported 478.9 KMT of palm oil in the seven months of MY 2016/17, or 19% less than at the same time in MY 2015/16, when imports hit a record some 593 KMT, reports UkrAgroConsult.

Indonesia traditionally continues to be the top exporter of palm oil to Russia, accounting for 76% of this product’s total imports by the country. However, the current season still features a drop in supplies to 362 KMT. On the contrary, the market capacity of the other two leading suppliers increased. Malaysia still remains the second largest exporter (11% or 52.4 KMT), having outpaced the Netherlands (10% or 49.2 KMT). As a reminder, palm oil imports from Malaysia increased more than 64% from the previous season.

 

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