As specified, the observed increase in shipments was largely secured due to active export of oilseeds from the far East and Siberian Federal district in China, aided by the current from 2015, zero export duty, convenient logistics, and more attractive pricing.

In addition, there has been a significant increase in soybean exports to Belarus, which previously almost did not purchase Russian oil, preferring Ukrainian.

"Given the expected maintain active shipments to China, as well as increasing the share of Belarus forecast of Russia's exports of soybeans in the 2018/19 marketing year has been increased and currently amounts to a record of 1.05 million tonnes (+27% by 2017/18 MG)," - noted analysts of the Agency.