18.03.2025, 13:56
Imports of one type of oil to Russia have fallen to a minimum
Source: OREANDA-NEWS
OREANDA-NEWS In 2024, Russia imported only 795 thousand tons of palm oil. These are the data from the Council of Palm Oil Producing Countries. They were quoted by RIA Novosti.
The achieved result turned out to be the minimum in ten years. More than 70 percent of all shipments come from Indonesia. In 2024, it imported 570.3 thousand tons of palm oil to Russia, worth 538.2 million dollars. In physical terms, these shipments increased by 12 percent, and in monetary terms — by 21 percent.
It is noted that the import of this product to the Russian Federation began to fall in 2022. At the end of last year, it fell by 4.2 percent.
Earlier, it was predicted that palm oil prices would remain high for many more years. The reason for this will be the stagnation of its production. In addition, the growing biodiesel production in Indonesia will have an impact.
Meanwhile, palm oil fell in price at the end of last year due to concerns about weak exports from Malaysia.
The achieved result turned out to be the minimum in ten years. More than 70 percent of all shipments come from Indonesia. In 2024, it imported 570.3 thousand tons of palm oil to Russia, worth 538.2 million dollars. In physical terms, these shipments increased by 12 percent, and in monetary terms — by 21 percent.
It is noted that the import of this product to the Russian Federation began to fall in 2022. At the end of last year, it fell by 4.2 percent.
Earlier, it was predicted that palm oil prices would remain high for many more years. The reason for this will be the stagnation of its production. In addition, the growing biodiesel production in Indonesia will have an impact.
Meanwhile, palm oil fell in price at the end of last year due to concerns about weak exports from Malaysia.
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