Russia's share in global sunflower oil trade could exceed 40%

Russia is set to dominate the global sunflower oil trade, with its market share expected to rise to 42% by the end of the season from the current 38%, making it the world's second-largest exporter behind Ukraine. In 2024, Russia exported 5.9 million tons of sunflower oil, primarily to India and China, but this figure is projected to slightly decrease to 5.6 million tons this year due to logistical issues. Besides sunflower oil, Russia also exports significant amounts of rapeseed and soybean oil. The country's head of federal center "Agroexport," Ilya Ilyushin, emphasized the importance of export growth in driving the development of the oil and fat industry and highlighted the need to diversify export markets, particularly in the Middle East and Africa.

By the end of the season, Russia's share in the global sunflower oil trade may grow to 42% against 38% in 2023/24, said Ilya Ilyushin, head of the federal center "Agroexport", during the Oil and Fat Conference. Russia ranks second in the world in terms of sunflower oil exports, this is the main export product of the oil and fat industry: it accounts for 74% of all vegetable oil supplies. In 2024, 5.9 million tons were shipped to foreign markets, with India and China being the main buyers. This year, sunflower oil supplies may decrease slightly - to 5.6 million tons, Ilyushin estimated. In general, vegetable oil exports from Russia this year, according to him, may amount to 7.9 million tons against 8 million tons in 2024 - a slight decrease will be due to logistical factors. "We also occupy a significant share in the sunflower meal market - more than a quarter of the total volume," Ilyushin noted. — The main buyers are Turkey and Belarus." Russia's share in the global trade in ...