27/01/2017 (UkrAgroConsult) - Palm oil purchases by Russia totaled 66.1 KMT in November 2016, or down 13% from the previous month (76.2 KMT). This trend has been seen for a third month in a row, and November’s imports were below the monthly average in the last two seasons (73.1 KMT), UkrAgroConsult reports.

Overall, palm oil imports in the three months of the current season 2016/17 (September-November) decreased 12.3% year-over-year, to 232 KMT from 264.5 KMT a year ago.

In the palm oil market, Russia is adherent to buying this product from its key supplier Indonesia. Traditionally, imports from this country represent 75-85% of all the palm oil purchased by Russia. Some drop in the purchases is observed this season, to 182 KMT (78% of total imports) against 220.3 KMT (83.3%) a year ago. At the same time, some growth was registered in purchases from the Netherlands – 24.6 KMT (10.6%) against 22.4 KMT (8.5%) and from Malaysia – 19.1 KMT (8.2%) against 18 KMT (6.8%).

As for now, the 2016/17 developments follow the scenario of MY 2014/15, when 826 KMT of palm oil was imported for the entire season.