MARKET DEVELOPMENT
Russia Cut Palm Oil Imports Again
Russia Cut Palm Oil Imports Again
19/09/2017 (UkrAgroConsult) - Palm oil purchases by Russia totaled 42.5 KMT in July 2017, down almost 24% from the previous month (55.8 KMT) and down 37% from July 2016 (67.4 KMT). This trend has been persisting for a fourth month in a row, reports UkrAgroConsult.
Overall, Russia imported 739.4 KMT of palm oil in September-July 2016/17, or 11.6% less than a record 836.7 KMT at the same time a year ago.
Despite a 28.5% slump in deliveries, Indonesia is still the top palm oil supplier to Russia in the current 2016/17 season – the Indonesian import share reaches 77%. Malaysia, on the contrary, almost doubled this product’s exports to Russia and presently accounts for 11% of the country’s total imports. So, Malaysian exporters sidelined the Netherlands, whose market share remained at the previous year’s level of 9%.
Overall, Russia imported 739.4 KMT of palm oil in September-July 2016/17, or 11.6% less than a record 836.7 KMT at the same time a year ago.
Despite a 28.5% slump in deliveries, Indonesia is still the top palm oil supplier to Russia in the current 2016/17 season – the Indonesian import share reaches 77%. Malaysia, on the contrary, almost doubled this product’s exports to Russia and presently accounts for 11% of the country’s total imports. So, Malaysian exporters sidelined the Netherlands, whose market share remained at the previous year’s level of 9%.