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Volga Baikal AGRO NEWS Update on Soybean Export !!!
The Russian Federation exported a record volume of soybeans a week before the imposition of the duty.
The export of soybeans from Russia for the week from January 25 to January 31 – the last week before the start of the export duty – amounted to 603.8 thousand tons, according to a review of the Agricultural Analytics Center subordinate to the Ministry of Agriculture, citing preliminary data from the Federal Customs Service.
This is a record weekly volume. Almost all of these products were shipped to China (601 thousand tons, or 99.5% of exports per week).
Since the beginning of the season (from September 1, 2020 to January 31, 2021), soybean exports from the Russian Federation amounted to 1.4 million tons (that is, in the last week before the introduction of the export duty, more than 40% of the total export volume was exported from the Russian Federation since the beginning of the season). This is 2.9 times more than the same indicator for the last season (480.8 thousand tons).
For the week from 18 to 24 January, exports amounted to 185.7 thousand tons, from 11 to 17 January – 109.7 thousand tons, from 4 to 10 January – 68.8 thousand tons.
As reported, from February 1, the Russian Federation introduced an export duty on soybeans – in the amount of 30%, but not less than 165 euros per ton (before that, there was a zero duty on soybean exports).
Earlier, from January 9, the export duty on sunflower and rapeseed was increased (up to 30%, but not less than 165 euros per ton). In January, the export of these crops practically stopped, it follows from the reviews of the Center for Agroanalytics. For the week from January 25 to January 31, the Russian Federation exported 0.3 thousand tons of sunflower and 1.1 thousand tons of rapeseed (a week earlier – 3 thousand tons and 2.6 thousand tons, respectively, in the previous two weeks there were no supplies).
Since the beginning of the current season, the export of sunflower from the Russian Federation amounted to 511.3 thousand tons, which is 5.4% higher than the same indicator for the last season. Export of rapeseed amounted to 365.9 thousand tons, which is 2.1 times more than a year earlier.
The “Center for Agroanalytics” also reported that the export of sunflower oil since the beginning of the season has decreased by 29.1% to 930.8 thousand tons, soybean oil – by 21.1%, to 221.1 thousand tons. The supply of rapeseed oil increased by 11.9% to 315.4 thousand tons.
Exports of sunflower meal since the beginning of the season have decreased by 10.1%, to 690.9 thousand tons, soybean meal – by 8.9%, to 207.4 thousand tons.
