According to a report from TASS on March 4th, Vladimir Petrichenko, the general director of the Prozerno analytical center, has forecasted a significant increase in sunflower oil production in Russia for the 2023/24 marketing year. The production is expected to reach a record high of 7.55 million tonnes, surpassing the previous season’s output by 13.5%.
Petrichenko further stated that this surge in production could lead to a substantial increase in Russian sunflower oil exports during the current season. It is anticipated that exports could reach 4.59 million tonnes, representing a 14.3% increase compared to the 2022/23 marketing year, which saw exports of 4.016 million tonnes.
This projection signals a promising outlook for Russia’s sunflower oil industry, highlighting the country’s growing dominance in the global market.