Ukraine: Premium to the price of non-GM soybeans contributes to production growth

Soybean

Ukraine

Published Sep 21, 2021

Tridge summary

The decline in the production and processing of soybeans and the export of soy products is a temporary trend. According to the forecasts of analysts at UkrAgroConsult, soybean production in Ukraine will increase due to increased yields.

Original content

Sergey Feofilov, General Director of UkrAgroConsult, spoke about this in his blog at Latifundist.com. “In addition, today the premium to the price for non-genetically modified soybeans on the market is $ 130 per ton. This will also affect the expansion of crop production,” says Sergei Feofilov. According to him, if the main reason for the unfavorable situation in the rapeseed market was the weather factor, then in the soybean market it was a decrease in the interest of farmers in its cultivation. After a series of unsuccessful seasons, the profitability of the crop has declined. And, despite the fact that the soybean edits were canceled, the farmers have already made a decision on the structure of the areas, having reduced the allotments for soybeans. “Today Ukrainian enterprises are able to process practically all the soybeans grown in the country. There is also a high external demand. The European market annually purchases about 18 million tons of soybeans. In addition, the ...

Source: Oilworld

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