9 Nov 2022 12:32

Potential for sunflower oil deliveries from Russia to Jordan estimated at 15,000 tonnes/year - Agroexport

MOSCOW. Nov 9 (Interfax) - The potential for sunflower oil supplies from Russia to Jordan is estimated at 15,000 tonnes ($20 million) per year, according to a market review prepared by experts at the Agriculture Ministry's Agroexport center.

In 2021, Russia supplied 4,100 tonnes of sunflower oil to Jordan ($6 million in value terms). Compared with the previous year, exports fell by 5,200 tonnes (9,300 tonnes in 2020), or by $2 million in value terms ($8 million).

Russia's share in supplies of this oil to Jordan was 7.6% in both volume and value terms.

Jordan is among the promising markets for sunflower oil supplies, and Russian exporters "already see an increase in demand from the Middle East and North Africa" commercial director of Yug Rusi Group (one of the leading producers of vegetable oil in Russia) Ily Ilyushin was cited as saying in the review. "I believe that starting in the second half of this season, Russia can significantly increase its presence in this market. The realization of the potential will be facilitated by solving issues related to the cost of freight and container transportation, as well as the processing of payments from foreign buyers," he said, recalling that Russia is expecting a record harvest of oilseeds this year, which will yield more than 9 million tonnes of vegetable oil.

According to the survey, the volume of mutual trade in agricultural products, feedstock and food between Russia and Jordan in 2021 compared with 2020 fell by 60.1% and amounted to $68.4 million. Russia's exports to Jordan fell 62.7% to $62.2 million (149,100 tonnes), while imports rose 39.4% to $6.1 million. Russia supplied mainly barley (22.8% of total export value), wheat (21.2%), dried chickpeas (19.7%) and rice (12.6%). The share of sunflower oil was 9.7%.

Experts explained that the decrease of Russian exports to Jordan in value terms was prompted by a decrease in supplies of barley (down $61.7 million), wheat (down $51 million), sunflower oil (down $2.0 million), and live sheep (down $2 million). At the same time, exports of dried chickpeas, rice, soybean oil, beef and food by-products of cattle increased.