31 July 2019
Russian sunflower oil maintains great potential at the markets of India and China
According to Alexey Gavrilov, director of the Division of export potential development of the Group, - India and China constantly increases consumption of sunflower oil that means great potential for supplies of these products from Russia.
In the season 2010/2011 consumption of sunflower oil in India amounted to 900 th tn while in the current season in has amounted to 2,9 mn tn. Consumption growth in China was strong as well: 360 th tn in the season 2010/2011 and 1,5 mn tn in the current season.
Russia provides about 25% of supplies of sunflower oil to China, while in India a share of our country is smaller – there is room for growth. Besides, export of Russian oil to the traditionally strongest direction – Egypt and Turkey – is unlikely to grow in the near future. In Turkey it can even decrease because this country has significantly increased its production of sunflower and sunflower oil.
In such a manner, export direction to India and China can become one of the most promising but to develop it, it’s necessary to solve a range of problems – difficulties in tariff policy of importing countries, lack of capacities of Russian deep water ports of the Black Sea, intention of exportes to buy sunflower seeds instead of sunflower oil.