Russia. Soybean oil exports remain record high

02.07.2018

Russia exported 27.3 KMT of soybean oil in April 2018 that was the smallest volume in MY 2017/18. Supplies decreased 53% from the previous month, being down more than 43% from April 2017. Nevertheless, total export statistics for September-April 2017/18 show a record 350.3 KMT (up 2.3% year-on-year), reports UkrAgroConsult.

As before, Algeria is the top importer of Russian soybean oil in the current 2017/18 season, absorbing 47% of total exports.

China and Cuba, having stepped up purchases significantly this year, account for 23% and 10% of the entire market, respectively. The interest of European countries in the Russian product remained at the previous level (8%). At the same time, Morocco, having resumed imports from Russia, accounts for 5% of the entire market.

New noteworthy export destinations include countries such as Hong Kong and South Korea, which received the first cargoes of Russian soybean oil.

More detailed information on the latest trends in oilseeds/vegoils/meals exports, supply and demand balances with breakdown by crop 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.

In 2017 International Conference «Black Sea Oil Trade» attracted 250 delegates from 25 countries and 150 companies. Conference participants are usually represented by producers and crushers of oilseeds, traders, enterprises for deep processing of vegetable oils, investment companies, banks, law, shipping, brokerage, insurance and surveyor companies.

 

UkrAgroConsult

 

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