Tridge summary
The Russian market for soybeans and soybean products is experiencing expansion with a 13.1% increase in sown areas in 2022, reaching a record high of 3,468.9 thousand hectares. The shift in soybean cultivation towards the European part of Russia is significant, with the Central Federal District now leading in soybean production. There has been a notable increase in the import of soybean seeds for sowing in 2022, while the export of these seeds has almost ceased. Soybean yields and gross harvests have seen significant growth, reaching record highs in 2021. Despite a decrease in soybean oil production in 2021, it is expected to increase in 2022, along with soybean meal production. There has been a reduction in the volume of soybean imports to Russia in recent years, and export supplies have also seen a decline.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The Russian market of soybeans and products of their processing in the current and forecast period is characterized by: - Expansion of sown areas in 2022 Compared to 2021, according to the calculations of AB-Center, they increased by 13.1% (by 400.9 thousand hectares) and amounted to 3,468.9 thousand hectares. This is a record high since at least 1990. The increase in acreage in 2022 is largely due to favorable pricing conditions and growing global demand for soybeans and their derivatives. - Structural regional changes in soybean cultivation In recent years, there has been a change in the structure of areas depending on the region of soybean cultivation, an increasing concentration of production in the European part of the Russian Federation. The leadership belongs to the Central Federal District (41.0% of all areas), although over the year the areas here have not grown so significantly, when compared with the country's general indicators - by only 8.9%. It should be noted that ...
Source: Oilworld
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