The positions of the Russian Federation in the rapeseed oil market are strengthening every year. It is currently one of the top 5 largest exporters of this product.
Since 2010, the share of Russian exporters in the global rapeseed oil market has doubled.
This is greatly facilitated by an increase in rapeseed yields due to an increase in acreage.
For example, in the 2020/2020 season. the volume of rapeseed oil production in Russia amounted to more than 600 thousand tons. It is planned that this figure may grow even more next season.
At the same time, Russia’s position in the world market this year has additionally strengthened due to the fact that the rapeseed crop in Canada has significantly decreased due to drought.
How is the consumption of rapeseed oil changing in the world?
It grows every year.
For example, in the current season, consumption amounted to 28 million tons, which is + 0.6% compared to the previous season.
According to the calculations of specialists, by 2025 the world market of vegetable oils will be approximately 263 million tons.
Of these, about 31 million tons will fall on rapeseed. That is, we are talking about a solid share of more than 10%.
The main consumers of this oil are Europe and Asia.
The top 5 manufacturers include the EU, China, Canada, India and Japan.
What are the prospects for Russian rapeseed oil exports?
It is already included in the top 5 exporters, which looks like this:
Canada.
Germany.
Russia.
Belgium.
France.
The share of Russia is 7.5%. In commodity terms, this is about 686 thousand tons.
At the same time, domestic consumption of rapeseed oil in the Russian Federation is almost absent: about 60 thousand tons per year. Therefore, more than 85% of the manufactured goods are exported.
If we take the period from 2018 to 2020, then the annual export of rapeseed oil from Russia is growing by 35%.
Among the main buyers are China and Norway, as well as the EU countries, which still lack rapeseed oil, despite their very high own production.
Currently, the production of rapeseed oil in the Russian Federation is actively developing.
World prices are growing, and even the introduction of export duties at the moment has not become a reason for the decline in manufacturers’ activity.
It is planned that in the future, the export of this product from Russia may grow to 1.1 million tons.
Thus, the prospects for development are very good, and no problems with demand for rapeseed oil are foreseen. The main thing, according to experts, is that the rise in prices for fertilizers, agricultural machinery and fuel does not reduce the profitability of production.
