MARKET DEVELOPMENT
Palm Oil Imports to Russia Decreased By 18% Against Last Year
Palm Oil Imports to Russia Decreased By 18% Against Last Year
31/03/2017 (UkrAgroConsult) - Russia purchased 66.7 KMT of palm oil in February 2017, or almost twice as much as in the previous month (34.4 KMT). However, its imports dropped by 33% against February 2016 (99.8 KMT).
In total, Russia imported 417.5 KMT of palm oil for the six months of MY 2016/17, down 18% year-on-year, reports UkrAgroConsult. As a reminder, palm oil imports hit a record 510 KMT in the same period last year.
Traditionally, Russia’s main supplier of palm oil is Indonesia with an import share of 76%, but the current season features a drop in deliveries to 318.4 KMT against 436.8 KMT a year ago. The other two top suppliers of this product, on the contrary, expanded their market shares. Over the six months, Malaysia gained the second place - 11%, having outstripped the Netherlands with 10%. Noteworthy, palm oil imports from Malaysia increased almost 74%.
In total, Russia imported 417.5 KMT of palm oil for the six months of MY 2016/17, down 18% year-on-year, reports UkrAgroConsult. As a reminder, palm oil imports hit a record 510 KMT in the same period last year.
Traditionally, Russia’s main supplier of palm oil is Indonesia with an import share of 76%, but the current season features a drop in deliveries to 318.4 KMT against 436.8 KMT a year ago. The other two top suppliers of this product, on the contrary, expanded their market shares. Over the six months, Malaysia gained the second place - 11%, having outstripped the Netherlands with 10%. Noteworthy, palm oil imports from Malaysia increased almost 74%.