Can Russia Reach Sunseed Oil Export Quotas?
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Following an announcement made on Mar 31th, 2022, Russia banned exports of Sunseed & imposed export restrictions on Sunseed Oil, with a quota of 1.5 Mmt between Apr 15th & Aug 31st, 2022. In Apr & May 22, Russia increased its Sunseed Oil exports by 48 kmt & 66 kmt YoY, respectively, and doubled exports volume YoY over the two months. Nonetheless, the quota time limit is now one and a half months away, and Russia exported only 227 kmt of Sunseed Oil —as measured on June 15th, 22— representing only 15% of the imposed limit. Are Russian exporters struggling to export Sunseed Oil, or did the government allow a large degree of leeway?
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