Russia: Oilseeds and Products Annual
Link to report:
In MY 2020/21, the oilseed segment of the Russian agricultural sector will see continued growth in production of sunflower seeds, in particular, as well as soybeans. This tracks with upward production trends in MY19/20. FAS/Moscow has revised its MY19/20 primary oilseeds production estimate (sunflower, soybeans and rapeseed) upward to 21.8 MMT due to expansion of planted area and favorable weather conditions. At the time of this report’s drafting, the COVID-19 outbreak started to heavily influence the world economy. Initially, some Russian analysts said that this factor should not impact oilseeds exports and their supplies to China. However, the desire to secure domestic oilseeds supplies did influence policymakers in Russia and the Eurasian Economic Commission (EEC) who imposed a temporary suspension of certain oilseeds exports, including soybeans and sunflower seeds, from April 12 to June 30, 2020. As a result, FAS Moscow has reduced MY19/20 exports of those commodities.
