Russia Increased Palm Oil Imports by 23.8% Since the Beginning of the Year
OREANDA-NEWS Russia in January - August 2018 increased imports of palm oil and its fractions by 23.8% compared to the same period in 2017, to 652 thousand tons, according to the materials of Rosstat.
Imports of sunflower oil, safflower or cotton, and their fractions during the reporting period increased by 27.8% and amounted to 18.1 thousand tons. Imports of coconut (copra), palm kernel or babassu oil and their fractions in January - August 2018 decreased by 0.1% and amounted to 50.2 thousand tons.
"Palm oil is five times cheaper than olive oil and 10% cheaper than the nearest analogue — sunflower oil. Today, manufacturers are trying to reduce costs at all stages of work", — said the General Director of "FinExpertiza" Nina Kozlova.
As previously reported, from July 16 in the countries of the Eurasian Economic Union (EAEU) entered into force new rules for labeling of milk-containing products, obliging manufacturers to provide information on the use of milk fat substitutes. The requirements concern, first of all, substitutes made on the basis of vegetable oils, the information about the content of which will be applied to the information field marked with a contrast color.
In addition, in July, the Ministry of industry and trade of the Russian Federation made a proposal to ban the sale of products with vegetable fats on one shelf with dairy products. This rule will allow buyers to avoid confusion when choosing dairy products, as well as make the process of orientation in the range more convenient, because the consumer will clearly understand what kind of dairy products to buy, according to the authors of the document. In their opinion, the change will contribute to the development of competition.
The oil and fat Union of Russia did not support the initiative of the Ministry of agriculture to introduce quotas for the import of palm oil.