Russia increased its sunflower oil production to a record 738,000 tons in April due to high demand due to difficulties in supplying Ukrainian goods to the world market. About author “Kommersan”.
“In April, vegetable oil production in Russia reached a monthly record level of 738,000 tons. The previous maximum of 700 thousand tons was observed in December 2020.”
From September 2021 to April 2022, 5.1 million tons of vegetable oil were produced. About 1.6 million tons of this total were exported to other countries. Especially Turkey, India and Egypt were the biggest buyers. Also, in the last few months, India has increased its purchase volume due to difficulties in shipping goods from Ukraine.
Experts agreed that the increase in exports would be a short-term phenomenon. In particular, the increase in shipments stemmed from market participants’ fears of a serious increase in customs duties. In addition, the farmers themselves do not want to send large quantities of sunflower seeds to the market due to the “irrational expectation” of high prices. While small producers may be slow to bring produce to market, large farms are already preparing for the new harvest with great vigor.
June 7 “Kommersant” WroteBy the end of 2022, the American PepsiCo in Russia may lose the first place in terms of revenue and lose ground to local campaigns. We are talking about GK Efko (vegetable oil Sloboda, Altero) and GK Rusagro.