A meeting to decide on restrictions for mass export of oilseeds from Russia will be held on November 9, Mikhail Maltsev, Executive Director of the Oil and Fats Union of the Russian Federation said.

Otherwise, in his opinion, the price equilibrium for raw materials and processed products at FOB Black Sea will reach 25%. In this case the net loss in domestic oilseeds processing will amount to 20 to 30% depending on the region.

Since April 12 this year Russia imposed a temporary ban on foreign shipments of sunflower in order to stabilize the domestic market and to preserve the raw material base inside the country.

Maltsev said that due to the poor sunflower harvest in Russia, Ukraine and Europe importers of sunflower seeds have stepped up and started to change the terms of sale to protect their own processing plants. He also stressed that Russia needs to react symmetrically in order to meet the domestic needs of its own processors for raw materials.

Made in Russia // Made in Russia

Author: Ksenia Gustova