Ukraine reduced the supply of soybeans
During the 8 month of the current MY, the volume of soybean exports decreased by 29% compared to the results of the last year.
This information was provided by the portal UkrAgroConsult.
As of May 31, 1.48 million hectares were sown with soybeans, which is 81% of the forecast areas. As of the same date last year, the sowing campaign was completed by 93%. This year, 1.82 million hectares were allotted for this crop, which is 5.5% more than last year.
However, experts believe that this year a reduction in the yield of this crop, a decrease in demand, and a significant decrease in the export potential of Ukraine are expected.
In addition, a record high sunflower harvest also affects the processing of soybeans.
Ukrainian soybean producers have faced challenges this season, leading to a reduction in exports. Some experts attribute this to weather conditions and increased competition on the global market.3S Company provides detailed information about this situation and about the prospects of the Ukrainian soybean market in the near future due to the use of advanced technologies for its processing.