Russia Set to Boost Output of Major Vegetable Oils in 2025, Forecast Shows

Russia's sunflower oil production may reach around 7.3 million tonnes in 2025, up 2.8% from last year's 7.1 million tonnes, according to Mikhail Maltsev, Executive Director of the Oils and Fats Union, as quoted by Interfax.

Maltsev also said output of other major vegetable oils is expected to rise this year:

• Soybean oil: from 1.1 million tonnes to 1.2 million tonnes
• Rapeseed oil: from 1.6 million tonnes to 2.1 million tonnes
• Linseed oil: from 0.02 million tonnes to 0.1 million tonnes

Export Forecasts For The 2024/2025 And 2025/2026 Seasons:

• Sunflower oil: 5 million tonnes → 5.2 million tonnes
• Soybean oil: 0.7 million tonnes → 1 million tonnes
• Rapeseed oil: 1.6 million tonnes → 2.1 million tonnes
• Linseed oil: 0.01 million tonnes → 0.1 million tonnes

Meal Production Forecasts:

• Sunflower meal: 6.8 million tonnes this season → 7 million tonnes next season
• Soybean meal: 4.9 million tonnes → 5.2 million tonnes
• Rapeseed meal: 2.2 million tonnes → 2.9 million tonnes
• Linseed meal: 0.03 million tonnes → 0.2 million tonnes

Meal Export Forecasts:

• Sunflower meal: from 3 million tonnes to 3.1 million tonnes
• Soybean meal: from 0.9 million tonnes to 1.2 million tonnes
• Rapeseed meal: from 0.8 million tonnes to 1.4 million tonnes
• Linseed meal: from 4,000 tonnes to 200,000 tonnes

Basis For The Forecast

Maltsev explained that the forecast is mainly based on an expected rise in the oilseed harvest compared with last year, adding:

"We see positive signals regarding planted areas and production volumes. Although processing and exports may decline over the summer, I believe that with the start of the next season, given the large volumes of oilseeds available and the market reaching a state of balance, we will be able to repeat the sharp increase in processing and export volumes seen in 2024."

He also noted that according to estimates by the Oils and Fats Union, Russia's 2025 oilseed harvest could reach 33.8 million tonnes, compared with 31.6 million tonnes the previous year.

Source: Interfax