MARKET DEVELOPMENT
Russia Imported Record High Volumes of Palm Oil
Russia Imported Record High Volumes of Palm Oil
29/09/2016 (UkrAgroConsult) - In August 2016 Russia imported 91.6 KMT of palm oil, which was 36% higher than in the previous month (67.4 KMT), but 11% lower than in August 2015 (103 KMT).
Total purchases in 2015/16 (September-August) equaled 927.8 KMT, or 12.3% higher than over 2014/15 (826 KMT). Key supplier is Indonesia, which has 85% in Russian imports (more than 795 KMT).
As expected UkrAgroConsult, in 2015/16 Russian palm oil imports reached record volumes. By the end of the season the influence of excise duty cancellation for imported palm oil allowed to increase its purchases in the last two months of the reporting period.
Total purchases in 2015/16 (September-August) equaled 927.8 KMT, or 12.3% higher than over 2014/15 (826 KMT). Key supplier is Indonesia, which has 85% in Russian imports (more than 795 KMT).
As expected UkrAgroConsult, in 2015/16 Russian palm oil imports reached record volumes. By the end of the season the influence of excise duty cancellation for imported palm oil allowed to increase its purchases in the last two months of the reporting period.