Russia set record in soybean oil exports


Monthly Russian exports of soybean oil hit a record 63.2 KMT in October 2016 against 39.6 KMT in September 2016 and 45.8 KMT in October 2015, reports UkrAgroConsult. Foreign sales in the two months of 2016/17 (September-October) also reached unprecedented amounts for Russia: the exports exceeded 100 KMT for the first time. Thus, according to UkrAgroConsult data, 102.8 KMT of soybean oil was supplied to foreign markets in September-October 2016/17, or 31% more than at the same time last year (78.4 KMT).

The top soybean oil importers in September-October 2016/17 included Algeria (50%), Venezuela (15%), Tunisia (11%), Cuba (7%), and China (5%). It is worth pointing out that China slashed purchases of Russian soybean oil by almost 4 KMT to 5.3 KMT in the beginning of 2016/17 against 9.2 KMT a year ago.



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