Ukrainian NGMO Soybean export volume to China decreased due to poor quality

The Ukrainian soybean market has a high ending stocks of 283 000 MT, but farmers are still reluctant to make sales due to prices. The total supply of soybeans is expected to be 3.683 MMT. Ukrainian NGMO soybeans, which has 30-40% of the total market share, is destined for the Chinese market, however the export volume is low due to poor quality. The market participants are expecting production to be over 3.38 MMT next year. According to market analysts and experts, the price premium for NGMO soybeans is expected to be around USD 170-220 per MT because of high international demand.