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Export supplies of soybeans from Ukraine

Export supplies of soybeans from Ukraine

Export supplies of soybeans from Ukraine

During the period from September to February, export supplies of soybeans from Ukraine reached a level of 2 million tons. This figure is a record and exceeds the previous figure by 5%.

Such information was provided by APK-Inform.

More than 70% of total export supplies came to Turkey (500.00 tons), Iran (310.000 tons), Egypt (240.000 tons), the Netherlands (190.000 tons) and Belarus (154.000 tons).

However, according to analysts, in the second half of the current MY the significant reduction in the export of this oilseed crop will be observed.

Experts believe that due to the active processing of this crop within the country as well as active competition for raw materials between processing plants and exporters, the amount of reserves has significantly decreased.

It should be recalled that the total volume of export supplies of oilseeds in the current MY is 4.3 million tons, which exceeds the same indicator of the previous year by 1 million tons.

Ukraine continues to actively develop its soybean export industry. In 2018, soybean exports reached a record level of 3.8 million tons, making it the highest figure in recent years. The main consumers of Ukrainian soybeans are China, Spain, Turkey, and the Netherlands. The increase in export figures is due to the improvement of product quality and the growing demand for Ukrainian soybeans in the global market. Soybean export is an important source of income for the Ukrainian economy and contributes to the development of agriculture. Ukrainian soybean producers continue to implement modern technologies in production and processing, which allows for increased production and competitiveness in the global market.