Russian sunflower oil exports reach highest level since November 2024 on lower export duty
Russian sunflower oil exports surged in June, reaching their highest level since November 2024. More than 300 thsd tons were shipped to the country’s two largest buyers, India and Turkey, up 189% from May and 415% higher than in June last year.
Analysts attribute the increase to two key factors. First, demand from major importers recovered. Second, Russian exporters accelerated shipments to take advantage of the lowest export duty since late 2024, which stood at RUB 1,337.5/t in June.
Market participants expect exports to remain strong in July as global sunflower oil prices continue to hold at relatively stable levels. However, the market outlook will largely depend on the arrival of the new sunflower crop in Turkey and the completion of India’s seasonal buying program as inventories are replenished.
Additional pressure on the market could come from an expected increase in global sunflower production during the 2026/27 season. Higher supplies may limit further price gains and slow export growth in the second half of the season.
In the first half of 2026, Russia exported 2.55 mln tons of sunflower oil, up 6% year-on-year. Total vegetable oil exports reached 3.73 mln tons (+5%), with India and Turkey remaining the largest buyers of Russian sunflower oil.
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