I & S INNOVATION & SUSTAINABILITY

EFKO will increase the capacity of its own Black Sea deep water terminal

8 April 2019

EFKO will increase the capacity of its own Black Sea deep water terminal

Published by: RBC

EFKO company is planning to invest 10 bl rubles in building of new capacities of the universal deep water terminal of agro-industrial complex’s products transshipment (sunflower oil, meal, oilcake) in Taman.

According to Evgeny Lyashenko, CEO of EFKO company, building of new capacities of the terminal can be initiated in 2019.

After realization of the project oil transshipment capacity will be increased to 3 mn tn, as for poured cargo – to 3,5 mn tn. It should be noted that there are only two Russian companies – participants of Fat&Oil market – EFKO and «Sodruzhestvo» Group that have their own sea terminals for Fat&Oil products transshipment.

At the moment, about 70% of Fat&Oil products are exported by water. Now Black Sea ports can transship around 1,8 mn tn of vegetable oils and about 350 ths tn of meal. It’s planned that by 2024 oil transshipment volume will have grown to 5 mn tn, as for meal – to 2,9 mn tn.

The Ministry of Agriculture believes that by 2024 vegetable oils export will have grown three times reaching 9 mn tn a year. At the same time, a share of Russia in the global oil trade can grow from 4 to 9%. The main buyer of Russian vegetable oil in 2024 will be India. China can become the second importer: volume of procurement can grow from 0,5 mn th to 1,8 mn tn.

According to the Russian export center in 2018 export of Fat&Oil products amounted to $3,2 bl. This year export in this sector can reach $4 bl.

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