Russia: Oilseeds and Products Annual
FAS/Moscow forecasts that in MY 2019/20 the production of three major oilseed crops in Russia will total 18.87 MMT and thus remain at the MY 2018/19 level, with soybeans and rapeseeds likely to set new records. Exports of oilseeds in MY 2019/20 will reach an historic maximum – 1.72 MMT, 7.3 percent above the MY 2018/19 indicator, driven by exports of rapeseeds and soybeans to China. Due to the higher crop, Post expects to see an increase in oilseeds processing: the production of meals will grow by 5.7 percent, and vegetable oils - by 4.9 percent year-on-year. Given the surplus volumes of vegetable oils in MY 2019/20, FAS/Moscow expects new records in exports of all vegetable oils – up to a total of 4.20 MMT, or 11.1 percent above the MY 2018/19 indicator.
