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Exports of oil and fat industry by 2024 will increase by 2.6 times
According to preliminary estimates from the agriculture Ministry, export of oil and fat products segment in the first quarter of 2019 (excluding EEU) increased by 23%. By 2024, according to the plans of the Ministry, the exports of goods the industry is expected to grow to $8.6 billion.
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In 2018, the shipment of oil products to foreign markets totaled $3.2 billion, which is 3.5% more than in 2017. However, this is less than previously forecasted by the Ministry of agriculture volumes ($3.6 billion). The backlog from the planned performance is primarily due to the pricing environment in the second half of last year, there was a significant decline in prices for sunflower oil, says project Manager to support the export of Russian agricultural export centre (REC) Denis Kazannikov.

The basis of the volume of shipments abroad fell directly on oils and fats — us $2.6 billion, and the rest — for oilseeds. In the total export of food the share of these products was close to 13%. In the current year the volume of export sector could rise to $4 billion.

The largest buyer of oil products is China, deliveries there in the past year amounted to about $700 million, the Country buys in Russia a full range of products in this segment: sunflower, soybean, canola oil, soy, canola, oilseed flax, Margarines and similar products, as well as meal and oilcake. The second place on volumes of import in value terms, Turkey is the approximately $320 million, the Main export in this country — about 75% — is sunflower oil. On the third position in the ranking of largest importers of oil products is located in Belarus — about $250 million As China, the Republic buys Russian almost the entire range of products in the industry. In the top 10 are Egypt, Iran, Norway, Uzbekistan, Algeria, Kazakhstan and Latvia.

 

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Translated by service "Yandex.Translation"
Источники: Зерно Он-Лайн