The pace of soybean exports from Ukraine in 2023/24 MR is 33% higher than last year

According to preliminary data of the State Customs Service, in December 2023, Ukraine exported 436,000 tons of soybeans, which is inferior to the record figure in November (528,000 tons), but is 22% higher than in December 2022, reports http://shareuapotential.com. In general, in 2023/24 FY, soybean exports from Ukraine amounted to 1.6 million tons, compared to 1.2 million tons for the same period last year. In the calendar year 2023, the export of Ukrainian soybeans amounted to 3.5 million tons, while in 2022 - 2 million tons, and in 2021 - only 1.1 million tons. The reason for the increase in exports was the increase in the soybean harvest compared to 2022 from 3.7 million tons to a record 4.8 million tons (which exceeded the previous record of 4.5 million tons in 2018) and the high profitability of growing this crop, thanks to which producers willingly sold it, restraining the sale of other agricultural crops. Despite relatively low initial stocks in FY 2023/24, soybean exports ...