SUNFLOWER OIL. EXPORT POTENTIAL OF RUSSIA
83
VIEWS
by Aleksey Udovenko
Russia has plans of market expansion which may impact vegetable oil market in China and India as the country want to penetrate both markets. This is highly possible. As far as we know over the past 6 years, the production of vegetable oils in Russia has increased by 63% and amounted to 5.1 million tons in 2016. Russia set to increase its market share in China from current 15%. Another big goal is to penetrate the Indian market. Based on the growing needs of India, we may estimate the export potential of Russia on the level of 3.6 million tons, which is 2 million tons higher than the current level. All this makes us closely monitor the development of the sunflower market in Russia.
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