The oilseed analysis publication called Oil World with its headquarter located at Germany Hamburg said that Russia created a new higher record for oilseed processing in 2013/14, because the output of sunflower seed and rapeseed (4838, -1.00, -0.02%) may create a new higher record in the history.

The Oil World said that expected Russia oilseed pressing capacity would rise to around 130 million tons in 2013/24, increasing 17% compared with the same period of last year.

The sunflower seed production of Russia was only lower than Ukraine, raking at the second in the world. United States Department of Agriculture (USDA) predicted that the output of Russia sunflower seed production would increase 28% than the previous year, achieving 10.2 million tons. The Oil World said, “The oilseed pressing material amount reaches an unprecedented level this year, because the output of Russia sunflower seed and rapeseed achieved a new higher level in 2013, and the import of soybeans increased.”