Russian oil and fat export increased by one fourth
28 Feb, 2020
Another workshop at the Russian Ministry of Agriculture was dedicated to the current situation in the oil and fat products market, export plans for 2020 and measures to support the industry. The meeting chaired by the Deputy Minister Oksana Luth gathered the Oil and Fat Union of Russia officers and the executives of national market majors.
The domestic oil and fat industry performing high year on year rates in production and supply to foreign markets has already become one of the drivers of Russian food exports. So, according to the 2019 totals, the growth of vegetable oils including unrefined fractions (especially corn) amounted to 12.6%. The export of oil and fat products last year increased by more than 25%, exceeding $4 billion.
The audience discussed how to provide the processors with appropriate raws. In particular, a temporary increase in the export duty on sunflower seeds should become an effective regulatory oilseed market measure. The Ministry submitted this point for the subcommission on customs and tariff and non-tariff regulation.
According to Oksana Luth, one of the key industrial tasks is to achieve real self-sufficiency in oilseeds. The solution is viable only if new competitive seed varieties become widespread. To reduce the import dependence of the industry the Ministry of Agriculture of Russia offers a subprogram “Development of selection and seed production of oilseeds”. Oksana Luth highlighted the importance of involving oil and fat enterprises in the attendant integrated scientific and technical projects.