Indonesia reinforcing its position in Russia`s palm oil market

13 August 2018 Palm oil imports to Russia totaled 77.2 KMT in May 2018, or 13.2% more than in the previous month and up 29.3% from May 2017. Altogether, palm oil purchases in 2017/18 (September-May) were up 21.2% year-over-year at 777.2 KMT against 641.1 KMT a year ago. Their total for the nine months hit a new all-time high, reports UkrAgroConsult.
If the pace of palm oil imports in the last months of the season remains as fast as before, Russia will purchase at least 960 KMT for the entire marketing year. This would be a record volume of imports to the country.
The current season features an increase in palm oil shipments to Russia from major exporters: Indonesia (84% of total imports), Malaysia (9%) and the Netherlands (4%). However, Indonesia gradually gains part of the market from other palm oil suppliers. This particularly concerns the Netherlands, whose share fell to 4% against 9% a year ago.
In addition, less significant exporters of palm oil to Russia left the Russian market: Denmark, Latvia, Lithuania and Finland. At the same time, the country began purchasing the product from Austria, Singapore, Japan and Turkey.
Detailed analysis of the latest trends in oilseeds/vegoils/meals exports, palm oil imports, supply and demand balances with breakdown by crop as well as crop conditions and progress in planting/harvesting in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Vegoils" by UkrAgroConsult.
Further prospects of the Black Sea oilseeds/vegoils market will be discussed at the VI International Conference “Black Sea Oil Trade”, which will take place on September 20, 2018 in Hilton hotel, Kiev, Ukraine. More than 100 delegates from 20 countries have already registered for participation in the International Conference «Black Sea Oil Trade».