IKAR in Mass and Industry Media

Export of sunflower oil from Russia this season may exceed 4 million tons and become a new record - IKAR From IFX

thetimeshub.in

Export of sunflower oil from Russia to this season (September 2022-August 2023) may reach more than 4 million tons and become a new record, the Institute for Agricultural Market Studies (IKAR) predicts.

“Sunflower oil exports could potentially exceed the previous record of 3 85 million tons and overcome the threshold of 4 million tons,” the IKAR review says.

This may be the result of a record production of sunflower oil this season. “In September-November, 1.5 million tons of sunflower oil were produced, which became possible due to high carry-over stocks of the old crop and the extremely high crush margin of processors. The second factor will certainly be less pronounced in 2023, but for now we can hope that this season, a new record will be reached in the production of sunflower oil, which will exceed 6 million tons. The previous record of 5.9 million tons was achieved in the 2019/2020 agricultural year,” the review says.

According to IKAR, in September-December, exports of sunflower oil amounted to 0.9-1 million tons, but this is still lower than the record figure of 2019/2020 agricultural year.

According to experts, exporters need to continue diversifying the direction of supplies and increase shipments to Asian countries.

According to the review, the export of sunflower meal in September-December also approached the record and, according to estimates, amounted to 600 thousand tons. “Moreover, exporters managed to diversify supplies: a significant reduction in exports to the EU countries was offset by an increase in shipments to Belarus and China,” experts say.

https://thetimeshub.in/export-of-sunflower-oil-from-russia-this-season-may-exceed-4-million-tons-and-become-a-new-record-ikar-by-ifx/4719/

30.12.22

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