Russia's rapeseed oil export may hit a record high

Russian agricultural investment network reported on November 17 that Russian rapeseed oil exports have increased for six years due to the increase in China's demand, according to APK information analysis agency. In 2021 / 2022, the output and export of Russian rapeseed oil may reach a record high, reaching 853000 tons (a year-on-year increase of 23%) and 835000 tons (a year-on-year increase of 12%) respectively.

The Russian oil Union believes that the growth of rapeseed oil export is related to Russia's restrictions on rapeseed export. China and Norway were forced to buy finished rapeseed oil due to the increase of Russian rapeseed export tariffs. It is expected that this trend will continue, the share of Russian oilseed export may fall to zero, and the export volume of rapeseed oil will increase.

Source: Economic and Commercial Department of the Embassy in the Russian Federation