Poland has already experienced a shortage of soybean meal

Published May 11, 2023

Tridge summary

Poland's ban on Ukrainian agricultural imports, including soybean meal, has led to a shortage and a surge in demand in the country, resulting in a significant price increase of $30-$50 per ton. Polish companies have had to seek alternatives in Hungary and other EU countries that have not imposed supply bans. The price of Ukrainian soybeans has also risen, and experts predict that prices will stabilize by early June.

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

Original content

The ban on the import of Ukrainian agricultural products, unilaterally imposed by Poland, has led to a shortage and rush demand for soybean meal in the country. This trend was noted in the analytical center of the cooperative "PUSK". “Prices for soybean meal in Poland jumped $30-$50 per ton on spot as there was a shortage at the refineries. Polish companies were counting on Ukrainian products, but the meal did not arrive due to the unexpected introduction of bans by a number of EU countries, including Poland. Ukrainian suppliers, not understanding the situation, quickly renegotiated contracts and sent trucks with meal to Hungary and other European EU countries that did not impose supply bans. The shortage caused an increase in prices for soybeans in Ukraine by processors,” the analysts explained. They also added that if at the beginning of last week the indicative prices for Ukrainian soybeans on the terms of the CPT plant were in the range of UAH 16,000-16,700/t, then as of May ...

Source: Oilworld