Export of oil and fat products: growth in volumes and new markets

According to preliminary data, in 2023 Russia exported more than 10.5 million tons of oil and fat products, which is 29% higher than in 2022.

Shipments of vegetable oils increased by almost 1.4 million tons, reaching 6.3 million tons, and the volume of meal increased by almost 1 million tons, amounting to 4 million tons. The majority of exports are sunflower oil, which amounts to more than 4 million tons, and rapeseed oil exports have also increased significantly, exceeding 1.5 million tons.

In 2024, exports of vegetable oils are expected to reach almost 7.4 million tons. The main contribution to this increase will be the supply of sunflower oil, which could reach a record level of 5 million tons.

In 2023, sunflower oil from Russia became competitive in the world market compared to other types of vegetable oils. In addition, Russian exporters successfully adapted to new conditions and optimized financial and logistics processes.

As a result, shipments of oil and fat products by rail to China have increased significantly, and shipments by sea to China and India have also increased. Russian companies are actively developing and strengthening partnerships with the world's leading importers, including not only traditional buyers such as Turkey, but also India, China, and the countries of the Middle East and Africa.