Russia. Soybean oil production hitting new highs

16.05.2018

This season’s upward trend in monthly volumes of soybean oil production brings it to record levels, reports UkrAgroConsult. So, a record 426.6 KMT was produced during the first seven months of the 2017/18 season (September-March) that is up 15% on the year.

Soybean crushing in Russia slowed down in March 2018. Soybean oil production decreased 9.5% that month against February 2018, to 56 KMT. However, this is up 27% from 44.1 KMT in March 2017 and an all-time high for this month.

The share of soybean oil in vegoils production remains at 12%.

Despite of increase in soybean processing in the current season, Russian soybean shipments to foreign markets in MY 2017/18 (September-February) remained at the highest level. They totaled 465.3 KMT, i.e. 26% more than in the whole of MY 2016/17 (368.3 KMT).

In the current 2017/18 season, Russia’s export trade in soybeans is focused on key importers. So, exports to China increased significantly. China’s share in total exports rose to 96% against 84% a year ago. Iran accounted for almost 4%. Russia started supplying soybeans to the Iranian market in MY 2016/17.

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.

Annual International Conference “Black Sea Oil Trade” – is an effective platform for networking with oilseed industry operators and discussion of the latest drivers in oilseed and vegoil sector of Ukraine and Black Sea region.

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

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