Oilmeals: China gives Russia a boost

February 5, 2020 at 1:17 PM , Der AUDITOR
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MOSCOW. Russia has stepped up the exports of sunflower meal. China's importance cannot be underestimated.

Global production and consumption set to revive again

After the rather difficult MY 2018/2019, when the upward trend in terms of production and consumption was halted, thins look much better for 2019/2020. According to the forecast of analysts, Oil meal production is expected to climb to a record of 363.2 million tonnes in MY 2019/2020 against 355.8 million metric tonnes in MY 2018/19. Problem was that the production of soybean prodcuts largely declined last year, which prompted a cut back in total meal production by 4.6 million metric tonnes.

Exports are on the rise in Russia

Russia exported nearly 1 million metric tonnes of sunflower oilseeds and sunflower by-products between the start of the season and 27 January. This is a sharp rise of 57% over the same period in 2018/2019. At the same time, the exports of sunflower meal rose by 64% to 695,300 metric tonnes. According to the Agroanalysis Centre, the three most important export destinations are Latvia (194,700 mt), Turkey (174,200 mt) and Italy (84,400 mt).

In addition, Russia's exports of soybean meal have risen by 57.4% to 181,800 metric tonnes over the same period. The most important export destinations are the Netherlands (45,800 metric tonnes), Uzbekistan (39,000 metric tonnes) and Poland (21,000 metric tonnes).

China gives export market a boost

Although China may not rank among the top five export destinations for sunflower and soybean meal, the Peoples' Republic nevertheless is a driving factor for Russia. The shipments of oilseeds and by-products from Russia to China have risen by 3.9% to 324,600 metric tonnes this season so far. In addition, it should be noted that Russia only obtained permission to ship sunflower, soybean and rapeseed meal to China in September.

Sunflower meal, granulated (39-40% protein), Russia

Region

RUB/t

USD/t

Ulyanovsk

11,500

≈ 182.73

Voronezh

12,000

≈ 190.68

Samara

11,500

≈ 182.75

Tatarstan

12,500

≈ 198.62

Trade sources, Russia /CPT

 

 

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