The state of the global and Russian markets for vegetable oils

Denis Ternovsky
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Denis Ternovsky: Gaidar Institute for Economic Policy

Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development (In Russian), 2025, issue 20, 5

Abstract: Vegetable oils are one of the most important segments of the global food market. Since the beginning of the century, their global production has grown 2.5 times, with palm oil production showing the best dynamics. Overall, more than 90% of the market is concentrated on a limited list of oils – palm, soybean, rapeseed, and sunflower. Prices for vegetable oils are rising in real terms, both in comparison with inflation and with other types of food, reaching a three-year high in August 2025. Despite steady production growth and favorable forecasts for the current and future seasons, global export dynamics are unstable amid expanding demand, which is putting upward pressure on prices. The Russian vegetable oil market is growing rapidly under the influence of external demand, with production being highly export-oriented. The higher profitability of oilseed production compared to grain production is the reason for the redistribution of acreage.

Keywords: Russian economy; vegetable oils; global market (search for similar items in EconPapers)
JEL-codes: Q13 Q14 Q15 (search for similar items in EconPapers)
Date: 2025
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