News company - Incubator

Investors in China are planning to invest over $1 billion in the construction of plants for the production of aviation fuel from used oil. The plans include launching production within 18 months to produce over 1 million tons of fuel per year, which will account for 2.5% of China's annual consumption.

Additionally, a SAF production plant is currently under construction in Sichuan province.

According to "Agroexport", by 2030, the export of rapeseed oil from Russia could reach 2 million tons. The rapeseed cultivation areas by 2023 have doubled, reaching 2.1 million tons, mainly in the Siberian Federal District.

In 2023, the export increased by 58%, reaching 1.55 million tons.

The Ministry of Agriculture of Russia has lifted export duties on sunflower oil, reduced the duty on meal, while maintaining the rate for oil. Prices for oil and meal have slightly decreased. The base price for meal has increased starting from 01.09.2023. Duty calculation starting from 07.2022: 70% of the difference between the base and market price for oil, and for meal - a formula with a coefficient of 0.7.

The Head of the Altai Region met with the company "Blago" at the St. Petersburg International Economic Forum. The construction of a sunflower processing plant in Rubtsovsk with investments exceeding 14 billion rubles is planned. The products are intended to be exported to China. The project will create up to 360 new jobs and is expected to be completed by 2030.

Export of rapeseed oil from Russia is planned at the level of 2 million tons by 2030. Russia ranks third in the world in the production of rapeseed oil. In 2023, the sowing area of 2.1 million tons exceeded the previous figure by two times. Export of rapeseed oil in 2023 increased by 58%, reaching 1.55 million tons.

Prices for agricultural products in Russia: sunflower - 26.7 thousand ₽, corn - 11 thousand ₽, soybeans - 35.4 thousand ₽.

World prices: sunflower +1.4%, corn -0.6%, soybeans -0.8%.

In Russia, 54.1 million hectares are sown, including 10.4 million hectares with sunflower, 2.6 million hectares with corn, and 4 million hectares with soybeans.

South Korean organization FLC has purchased 66,000 tons of corn from ADM Trading House at $242.99 per ton on C&F terms.

Delivery from South America is scheduled from August 17 to September 15, and from South Africa from August 27 to September 25. (source: Grain Online)

Due to the high soil moisture in Primorye, soybean sowing has been delayed. According to the Ministry of Agriculture, only 33% of the plan has been sown due to prolonged floods. Farmers have faced difficulties due to the wet soil.

Rice planting has been completed earlier.

Agroconglomerate "Bio-Ton" is expanding its operations by acquiring land plots in the Stavropol Territory for growing oilseeds and leguminous crops. The company will focus on increasing crop yields and reducing the cost of sunflower cultivation.

The transfer of agricultural crops in the regions of Russia affected by frost is coming to an end. It is expected to maintain the production of grains at a level of not less than 132 million tons, of which 85 million tons are wheat. Plans for the global market include supplying up to 70 million tons of grain, emphasizing the importance of domestic food security.

Kazakhstan plans to increase the sown area of ​​oil flax to 1 million hectares by 2024 due to low profitability of other crops and demand from China.

The European Union has shrunk due to pesticide requirements. The Chinese market is becoming more appealing. Increased competition from Russia and potential sanctions pose a risk to exporters.

The government of the Zabaikalsky Krai has set the basic rate of export duty on sunflower seeds at 6.5% (until July 31). The tariff quota is 1,523 tons. The distribution will be handled by the head of the region. The decision is aimed to support producers in the absence of processing opportunities for seeds on-site.