Over 50% of Ukrainian soybean meal was exported to Poland in 2023/24

Published Aug 22, 2024

Tridge summary

In the 2023/24 marketing year, Ukraine exported 653,000 tons of soybean meal from September to July, marking a 23% increase from the previous season. The European Union, particularly Poland, remains the primary destination, with Poland receiving 51% of the total exports, a 37% rise from last season. Ukrainian soybean meal exports have been on the rise for three consecutive seasons, enhancing domestic soybean processing. The total exports for the 2023/24 season are projected to reach 680-690 thousand tons, the second highest in history after 2018/19, with Europe identified as a potential premium market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In September-July 2023/24 MR, 653,000 tons of soybean meal were exported from Ukraine, which was 23% higher than in the same period last season. This was reported by IA "APK-Inform". The main direction of export of Ukrainian products remains the countries of the European Union with a share of 88% (82% in 2022/23 MR) and an increase of one third compared to the previous season. In particular, 51% of total exports went to Poland (in 2022/23 FY this figure was 46%). Thus, a record 335,000 tons were shipped in this direction in 11 months of 2023/24 MR, which was 37% more than the figure in the same period of the previous season. It should be noted that the shipment of this product from Ukraine has been growing for the third season in a row and, in turn, stimulates the increase of soybean processing by Ukrainian plants. According to APC-Inform estimates, the total ...

Source: Agrotimes