USSEC Contributes to Oils and Fats Conference in Russia
The IV International Oil and Fats Conference was held at the Park Inn Radisson Pribaltiyskaya in St. Petersburg, Russia on October 23 and 24. The conference is a key event for the Russian oil and fat industry, annually organized by the Publishing House Sfera with working languages, Russian and English. This year, it attracted more than 200 delegates from 20 countries. 30 speakers delivered presentations at five consecutive sessions. Additionally, a specialized professional exhibition took place both days of the conference.
USSEC sponsored conference registration. USSEC Country Representative – Russia Maria Domoroshchenkova contributed to the promotion of U.S. Soy during the event. Conference delegates received USSEC technical brochures published in Russian focusing on the nutritional value of U.S. soybean meal, dispelling myths about biotech soy, promoting the health benefits of soy products, and a soy quality analysis manual. All delegates received personal badges with green lanyards with the USSEC logo; additionally, the USSEC logo was displayed on all printed conference materials. One-on-one meetings during breaks and after the sessions allowed USSEC to provide extra input on the high value of U.S. Soy and the organization’s mission and activities.
During the two-day event, participants and industry experts discussed the current situation of the global and Russian oil and fat market, the main trends of the 2019/20 season, innovations in transport, logistics of vegetable oils, vegetable oil production technologies and equipment, food and feed safety issues, alternative agricultural crops and new products, and other points of interest.
Artem Hammerschmidt, Senior Analyst from OIL WORLD ISTA Mielke GmbH, was a keynote speaker under USSEC sponsorship and support. He gave a presentation on Global Market for Oilseeds, Oils & Meals: Key Developments & Outlook 2019/20. In his speech, Mr. Hammerschmidt specified that the prospective tightening of palm oil supplies will raise incentive to crush soybeans and other oilseeds for oil.
The International Conference “Oil and Fat Industry. Oils and Fats” was an effective platform for dialogue between representatives of oil and fat enterprises and world experts. Participants discussed the changes and trends occurring in the world and Russian markets, received information about research and development in the industry, and updated knowledge on modern practices of the processing of oilseeds and vegetable oils including soybeans, soybean oil, soy protein products, and lecithin.
Soybean crushing and oil refining capacities are steadily growing in Russia. Although sunflower remains the principal raw material, local crushers’ demand for soybeans is increasing. Disseminating information on U.S. Soy and providing technical support in production of high quality soybean oil is important for Russian and Commonwealth of Independent States (CIS) crushers and vegetable oil refiners for the introduction of high quality soy oil and soybean meal to the local market and for further development of the soy market in Russia. Providing science-based information to local customers on the benefits of U.S. soybeans as a reliable and sustainable raw material is helpful for building a demand for U.S. soybeans.