Vegetable Oil (Global Market)

Chronicle

2024: Russia's share in the global sunflower oil market reached 38 %

The head of the federal center "Agroexport" Ilya Ilyushin in early April 2025 said that Russia's share in the world sunflower oil market in the 2023-2024 agricultural season amounted to 38%, and this season (ends in August 2025) may exceed 40%.

According to Interfax, Russia is the largest supplier of sunflower oil to a number of countries, occupying a significant share in their imports: 61% in India, 66% in China, 68% in Egypt, 83% in Iran and 57% in Turkey. In the sunflower meal market, Russian products also occupy a significant share - more than a quarter of the total world market, with Turkey and Belarus being the main buyers.

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Фото: Freepik

Despite the impressive success in the sunflower oil segment, Russia's position in the rapeseed and soy oil markets is more modest. According to Ilyushin, the country's share of the global rapeseed oil market is 18%, with export flows completely redirected in recent years. As a result, nearly 90% of rapeseed oil exports are in China, where Russia already accounts for more than half of imports, which could make it harder to further increase supplies in that direction.

Unlike butter, rapeseed meal exports have a more diversified structure. The largest buyers of this product are China (36%), Turkey (18%) and France (13%). Such diversification creates a more sustainable situation compared to rapeseed oil exports.

Russia's share in the soybean oil market last season amounted to 7% of global trade. More than half of exports are to India and Algeria. The supply of soybean meal is relatively small (0.9 million tons) and is mainly directed to the markets of neighboring countries (67%). The head of Agroexport noted that rapeseed and soybean meal are more in demand in the Russian domestic market, so the dynamics of their production will depend mainly on the demand from Russian animal husbandry.^[1]

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