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Export of rapeseed oil from Tomsk region decreased by two times in 2024

In 2023, the export of rapeseed oil from Tomsk region to China amounted to 26,917 tons, while in 2024, it dropped to 13,579 tons, as reported by our representative from the interregional Rosselehoznadzor. The director of 'Sibirskaya oliva', a company exporting this oil, explained that the...

Export of rapeseed oil from Tomsk region decreased by two times in 2024

Tomsk's Rapeseed Oil Export to China: A Growing Trend

Here's a low-down on the potential surge in rapeseed oil exports from Tomsk, Russia, to China over the next couple of years:

The Boost Behind the Boom

Tomsk's rapeseed oil exports to China reached a whopping 26,917 tons in 2023. But that number could double or even triple by 2025, surpassing the 13,579 tons exported in 2024. The reason? Well, let's dive in!

  1. China's Growing Appetite for Russian Goods: With increased food security concerns, China is keen on building long-term relationships with reliable food suppliers such as Russia. And with waterways like the Belt and Road Initiative (BRI), transport costs get slashed for Siberian producers.
  2. Tomsk's Green Gold: The Tomsk region is a minor player in Russia's rapeseed production, but it's growing. With processing facilities upgrades and transport links improving, these Siberian producers are becoming more export-ready.
  3. Global Market Trends: A massive 12 million tons of vegetable oils were imported annually by China between 2021 and 2023. And with a growing demand for rapeseed oil for biofuel and the food industry, Russia's discounted supplies are cashing in.

Why the Dip in 2024?

The dip in 2024 seems to be due to the introduction of tariffs and a lack of subsidies for raw material purchases. But the good news is that, allegedly, these issues may be addressed in 2025, leading to a boom in exports.

Steering Through the Challenges

Challenges like logistics bottlenecks, tariffs from China, competition from palm oil, and climate volatility could potentially derail the growth momentum. But smart moves like long-term contracts with Chinese buyers, international certifications, lobbying for subsidies, and market diversification could help overcome these hurdles.

The Numbers Game

If all goes according to plan, Tomsk's rapeseed oil exports to China could see a 30-50% surge by 2025, rising to 13,000-15,000 tons. But remember, these figures rely on factors such as good weather, favorable trade policies, and no major geopolitical upheavals.

Keep an Eye Out

Want to stay updated on the latest happenings in the world of rapeseed oil exports from Tomsk to China? Keep an ear to the ground with trade data from the Russian Federal Customs Service, Chinese Customs reports, and industry updates from reputable news sources like TASS or Interfax.

  1. By 2025, the strong potential surge in Tomsk's rapeseed oil exports to China could spark a rise of up to 50%, achieving an export volume of around 15,000 tons, as the region's rapeseed oil becomes increasingly sought after in the finance-driven global industry amidst growing demands for biofuel and the food sector.
  2. In an effort to address the temporary setbacks faced in 2024, the industry is focusing on strengthening long-term contracts with Chinese buyers, advocating for subsidies, and implementing market diversification strategies, ensuring a section of sustained growth in the near future.
  3. Despite the challenges posed by logistics bottlenecks, tariffs, competition, and climate volatility, the industry aims to maintain a steady pace towards 2025, with a target of exporting approximately 60,000 tons of rapeseed oil, provided there are no unexpected hurdles, such as unfavorable trade policies or major geopolitical changes, that may alter the current course.
In 2024, rapeseed oil export from Tomsk Region to China was 13,579 tons, contrasting with 26,917 tons in 2023 according to our site's representative from the interregional Rosseenhznadzor. The director of 'Siberian Olive', the company exporting the oil, explained the reduction in volume is due to the imposition of tariffs and lack of subsidies for raw material acquisition.

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