Since the beginning of the year, the supply of oil and fat products has grown by 42%. In terms of specific oil and fats products, during the last season there were 61% more exported finished sunflower, soybean and rapeseed products than raw materials. This is 5% more than in previous seasons.
Russia satisfies all domestic demand for vegetable oils and has aggressively increased exports, tenfolding the exports volume. Vegetable oil exports have increased to nearly USD 5 bln. in value.
The second largest producer of oilseeds is oil meal. It is a necessary component of feeds. Oil meal is a source of vegetable protein that serves as the foundation for further processing and manufacturing of food products. This is one of the most promising areas for the oil and fat industry's development.
The Russian oil and fats industry is a massive resource with enormous technical potential for export growth. The enterprises are now equipped to store and process 29.5 thous. t of fats and oils. Oilseeds exports are expected to increase 2.5 times next season.
Recent trends in the consumer market indicate a growing interest in only finished fat and oil products, ranging from vegetable oils to mayonnaise sauces. Restrictive duties have been imposed on exports of seeds of the three major oilseeds. And there are all the prerequisites for the expansion of export duties on the entire line of oilseeds and keep them on a permanent basis.
