Sunflower oil exports from Novorossiysk

29.08.2017

Russia ranks second after Ukraine in the world production and trade of sunflower oil with the shares of 24% and 19% respectively. In recent years, record high sunflower seed production in Russia has triggered the increase in crushing for exports. In the 2016/17 season, sunflower oil exports reached about 2 MMT, most of which (1.6 MMT) passed through the country's seaports.

In early August, it became known that Novorossiysk Commercial Sea Port (NCSP) concluded a memorandum of cooperation with Cargill and PFC Profit (representing interests of NMGK Group and the international grain trader Wilmar International) for construction of the terminal for vegetable oil handling in the port of Novorossiysk. The implementation period is 2017-2019, and handling capacity should grow to 1.5 MMT per year.

Thus, if the project is implemented, this will make the NCSP terminal the largest in the country, UkrAgroConsult notes. It should be noted that in 2013 NCSP announced the terminal construction in partnership with the United Grain Company. Then its annual capacity was supposed to reach 2 MMT, but the construction did not start for a number of reasons.

Full version of the article is available to subscribers for weekly market report “Black Sea Grain & Oil” and “Online market review” by UkrAgroConsult.

 

UkrAgroConsult

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