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Oleoscope analysts estimate that Russian oilseed exports fell 22% in the first five months of 2025 compared with the same period last year, reaching 1.071 million tonnes.
In detail, sunflower seed exports dropped 7% between January and May 2025 to 120,000 tonnes, below the level recorded in the same period of 2024. More than 85% of these seeds went to countries of the Eurasian Economic Union (EAEU).
Soybean exports during the same period totalled 268,000 tonnes, down 35% compared with the same period of 2024, with China the largest importer at 184,000 tonnes.
Rapeseed exports fell to 242,000 tonnes in the first five months of 2025, a decline of 18%, with most of the volume shipped to Belarus (183,000 tonnes) and China (49,000 tonnes).
Flaxseed exports totalled 422,000 tonnes, down 15% year-on-year, with China (324,000 tonnes) and Belgium (34,000 tonnes) the largest importers.
Vegetable oil exports continued to decline, totalling around 2.72 million tonnes in the first five months of 2025, down 19% compared with the same period last year.
Sunflower oil exports fell 25% to 1.87 million tonnes, accounting for more than 68% of total vegetable oil exports. The leading importers were Turkey (456,000 tonnes) and India (402,000 tonnes).
Soybean oil exports fell 38% to 227,000 tonnes, with Algeria (100,000 tonnes) and India (78,000 tonnes) the main buyers.
By contrast, rapeseed oil exports rose to 624,000 tonnes, up 26% on the same period last year, with more than 88% shipped to China.
The decline in sunflower oil exports is attributed to lower volumes of sunflower seed being processed for export, as a result of shrinking profit margins caused by higher raw material prices. The Russian Union of Oil and Fat Producers noted that processing margins remain at -16%, even after raw material prices fell to the optimal level of 36,000 roubles per tonne.
According to the US Department of Agriculture (USDA), global sunflower seed production in the 2025/2026 season is expected to exceed 56.2 million tonnes, up 4.3 million tonnes from the previous season, with growth driven mainly by Black Sea countries and the European Union.
Last week, Ukrainian industry agencies reported that Ukraine's current sunflower seed stocks stand at around 2 million tonnes, not including quantities held at processing plants, suggesting that Ukrainian farmers could face lower prices in the new season compared with the current one.
It was also recently reported that sunflower seed processing in Argentina has slowed following the bankruptcy of the country's largest processing company, which is expected to lead to a build-up of raw material stocks.
The Union of Oil and Fat Producers noted that, given these factors, sunflower seed prices are expected to fall markedly towards the end of the season, with the decline likely to continue into the next season if production forecasts materialise.
Total vegetable meal exports in the first five months of 2025 reached around 1.65 million tonnes, down 10% compared with the same period last year.
Sunflower meal exports came in at 1.1 million tonnes, down 7%, with Turkey (449,000 tonnes) and Belarus (301,000 tonnes) the largest importers.
Soybean meal exports totalled 221,000 tonnes, a sharp 52% decline, with Belarus (76,000 tonnes) and Uzbekistan (44,000 tonnes) topping the list of importers.
During the same period, 329,000 tonnes of rapeseed meal were exported, a notable 85% increase compared with 2024, with China (221,000 tonnes) and Turkey (33,000 tonnes) leading the importing countries.
Margarine product exports from January to May 2025 totalled around 82,000 tonnes, down 13% compared with the same period last year, with Kazakhstan (25,000 tonnes) and Uzbekistan (10,000 tonnes) the largest importers.
Mayonnaise exports in the first five months of 2025 rose slightly by 2% to reach 54,000 tonnes, with Kazakhstan the main importer at 15,000 tonnes.
Source: Al Mal Forum