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Efko will invest 10 b roubles in the construction of oil, oil cakes and seed cakes transhipment terminal construction

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One of the major players at the fat-and-oil market – Efko company – is planning to invest 10b roubles in the construction of universal deep-water terminal for agricultural products transhipment (oil, oil cakes, seed cakes) in Taman. As informed by Evgeniy Lyaschenko, General Director of Efko. The group is about to start construction in 2020.

Lyaschenko says that the company is one of the two fat-and-oil market participants who has own marine oil products transhipment terminal (the other player – Sodrugestvo). New capacities construction will allow to amount transhipment up to 3m tonnes of oil and up to 3.5m tonnes of bulk goods.

To date total capacities of the Black Sea harbours allow to export about 1.8 m tonnes of oil and about 350 k tonnes of oil cakes. Meanwhile planned transhipment volume by 2024 should grow up to more than 5 m tonnes of oil and up to almost 2.9m tonnes of oil cakes. Natural restricting factor is the absence of rail way routes to the terminal. According to Oksana Lut, Deputy Minister of Agriculture, infrastructure development, including motor and rail ways to the export terminals has been added to the export development state programme. To Lyascheko’s mind, these measures should not be limited only by 2024 as terminal construction and infrastructural projects will be paying back much longer.

The Ministry of Agriculture of Russia expects tripling – up to 9m tonnes – of oil export by 2024. While the share of Russia in the world oil trade will rise from 4% in 2018 to 9% in five years. India will become the major consumer of Russian oil in 2024. Estimated export volume to this country is 3.2m tonnes. At the moment shipping to India has only started. China can become the second exporter which can increase purchase volume from 0.5 m tonnes to 1.8 m tonnes. Supplies to Turkey are about to grow too from 0.3m tonnes to 0.7 m tonnes. Mr Lyaschenko remarks that today 70% of fat-and-oil export, oil included, is conducted by the sea.

According to the Russian export centre, in 2018 the volume of fat-and-oil products export comprised $3.2b. In 2019 expected export volume equals $4.

Source: Agroinvestor

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