Russia shipped abroad five times as much sunseed as last year

16.08.2017

Following record sunseed exports of 78 KMT in May 2016/17, Russia reduced them to 27.6 KMT in June. However, the latter is up more than 2.4 times year-on-year. Overall, Russia exported 307.7 KMT of the commodity in September-June 2016/17, or almost five times as much as at the same time last season, reports UkrAgroConsult.

The current season witnesses a surge in exports to key destinations. So, Turkey stepped up purchases of Russian sunseed 6.6 times and grabbed an export share of 74%. The EU and Iran increased them 5.5 times (14%) and 3.5 times (9%), respectively. The key role in this process was played by a duty reduction to 6.5% and aggravation of trading relations between Russia and Turkey in the sunoil market. Already now, Russian crushers are initiating a 10% raise in the duty as they are experiencing a feedstock shortage and not operating at full capacity.

Further prospects of the oilseeds/vegoils market in the Black Sea region countries will be discussed at the V International Conference “Black Sea Oil Trade”, which will take place on September 19, 2017 in Hilton hotel, Kiev, Ukraine.

Annual International Conference “Black Sea Oil Trade” – is an effective platform, providing oilseed industry operators with vast networking opportunities, exclusive analytics of Ukrainian and Black Sea agri market, insights for development of the long term business strategies.

Conference participants are represented by producers and crushers of oilseeds, traders, enterprises for deep processing of vegetable oils, agriholdings, investment companies, banks, legal, shipping, brokerage, insurance, surveyor companies etc.

Early Bird registration rate is available! Market operators from 18 countries have already registered to take part. 

Follow the updates, Agenda and Speakers at the conference website.

 

UkrAgroConsult

 

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