Norway becoming the top importer of Russian rapeseed oil in the new season

UkrAgroConsult

Rapeseed oil exports from Russia in July 2020/21 hit a record high for this period – 50.3 KMT (+31% y-o-y), UkrAgroConsult reports.

Shipments to major destination markets changed as follows: Norway (+216%), China (-8%), EU countries (-38%).

Export potential in MY 2021/22 will increase because of a forecast rapeseed crop increase, stable demand from key importers, and the current tariff on rapeseed exports.

Growth in exports was registered to the following markets: Lithuania (+215%), Kazakhstan (+84%), Ukraine (+19%).

A slowdown in exports as observed to the Netherlands, Israel and Latvia.

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Tags: top importer, Russian rapeseed oil, Norway