April 12, 2011
Russian soymeal imports up
Soy imports into Russia continue to meet most of the local demand for soymeal.
Soymeal dominates in quality amongst other varieties of oilseed meals (soy, rapeseed and sunflower meals), because the product contains high protein content.
According to data of APK-Inform Agency, in 2010, the general volume of soymeal and soycake production in Russia totalled 3,050,000 tonnes. Production volumes of soymeal and soycake in the 2010/11 marketing year will total 1,396,000 tonnes. Despite the fact that the production volumes of soy of Russian origin continues to grow stably, the essential share of soymeal still comes from import volumes. Soy imports make up the essential part of the domestic demand for soymeal.
According to the data of APK-Inform Agency, during September-February of the current year the country imported 236,000 tonnes of soymeal (as opposed to 2,178,000 tonnes in the same period of the 2009/10 marketing year). According to forecasts of APK-Inform Agency, till the end of the season the general import volumes of soymeal to Russia will total 450,000 tonnes, an increase of 3,835,000 tonnes compared to the previous year.
