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Russia to triple rapeseed production in three yearsRussia & CIS Business and Financial Newswire LIPETSK. April 7 (Interfax) — Russia will triple rapeseed production to 3.5 million tonnes in the next three years, Agriculture Minister Alexei Gordeyev said in the Lipetsk region on Monday at an opening ceremony for a new rapeseed plant. Rapeseed production is to total 1.5 million tonnes in 2007 compared to 720,000 tonnes in 2007, he said. The crop will be planted on 1.1 million hectares in Russia this year. «When the planted area expands to 2 million hectares and more, we will be able to produce enough rapeseed to export a part of this valuable oil crop,» he said. Gordeyev said Russia needs to pass a law that would it mandatory for biofuel to be used for 5% of motor oil. Investment in the new rapeseed processing plant called Liboil totaled 500 million rubles. Liboil chairman of the board Nikolai Bobin said at the ceremony that the plant was built with the use of loans from Sberbank. The first phase of the plant has capacity to process 80,000 tonnes of oils per year. Output will increase to 120,000 tonnes in 2009-2010 when the plant reaches full production capacity. The plant will be the largest rapeseed processor in the Central Federal District, Bobin said. The second phase of the plant envisions the construction of a plant that will produce bio diesel fuel.
Date: 07.04.2008 Leave your comment
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