Russia has been reducing sunseed exports for a second consecutive season. It shipped abroad 4.6 KMT during the first three months in MY 2018/19: this was the smallest volume in eight seasons. UkrAgroConsult estimates that this season’s exports will total 50-55 KMT.
Significant changes have happened in the pattern of Russian sunseed exports this season. China, which had not been a key buyer before, became the top importer with an export share at 24%. Turkey considerably reduced imports from Russia and yielded its ranking position to China.
Despite smaller purchases, the top importers still include Georgia (17%), Azerbaijan (13%) and Uzbekistan (13%). In addition, another significant buyer of the Russian commodity – Iran – has made no purchases from Russia this season.
In the near future, the government will stop refunding export VAT on vegetable oils