Russia's share in the global vegetable oil market has grown to 8.5%

By the end of 2024, Russia remained the third-largest global exporter of vegetable oil, holding an 8.5% market share, as reported by OleoScope analysts. The country excelled in exporting sunflower, rapeseed, and soybean oils, capturing a 20% share in these categories. Overall oil exports grew by 8% to 7.29 million tons, driven by a surge in sunflower oil exports, although rapeseed oil exports dropped by 30%. While plant meal exports stayed consistent, oilseed exports declined by 37% due to protective duties, which in turn increased domestic processing capacity utilization to a record 89%. Despite a 4% decrease in export value due to falling global prices, particularly impacting the rapeseed sector, total oil and fat product exports rose by 5% to 11.7 million tons.

At the end of 2024, Russia retained third place in the world in terms of vegetable oil exports, the country's share in the global market increased by 1%, to 8.5%, according to analysts from the OleoScope agency. At the same time, our country is the leader with a 20% share in total supplies of sunflower, rapeseed and soybean oils. Analysts estimate the volume of oil exports at 7.29 million tons, 8% more than in 2023. In particular, sunflower oil supplies increased by 24%, to 5.46 million tons, soybean oil - by 2%, to 691 thousand tons, rapeseed oil - decreased by 30%, to 1.13 million tons. Russia's share in the global export of these oils amounted to 36%, 6% and 15%, respectively, according to OleoScope. Exports of plant meals remained approximately at the 2023 level, having decreased by 0.37%, to 4.02 million tons. At the same time, shipments of sunflower meal increased by 12% and reached 2.73 million tons, soybean meal added 4%, to 842 thousand tons, but rapeseed meal fell by ...