Exports of Kuban fats and oils increased by 13% in 2023

The Krasnodar Territory's Ministry of Agriculture reported a 13.4% year-over-year (YoY) increase in oil and fats exports from January to July 2023, totalled $610 million.

The main exports in this category are sunflower and rapeseed oil, as well as oilcake, margarine and mayonnaise.

Asian countries import the largest share of Kuban’s oil and fat products.

The increase in production and exports was possible due to partial reimbursement of farmers’ expenses for oilseed crops production.

Total exports amounted to $2 billion against a target of $2.6 billion. The biggest growth rate in exports is in meat and dairy products amounting to $40 million (a 1.5-fold increase), as well as in fish and seafood — $1.9 million (a 2.4-fold increase).