Prices for soybean oil in Ukraine have reached more than a year's high

Published 2024년 6월 12일

Tridge summary

The Ukrainian soybean oil market has seen a surge in offer prices in early June, reaching their highest since March 2023 due to increased demand, particularly from Poland. As of June 11, prices ranged from UAH 35,100-37,800/t, with export prices reaching 750-780 €/t. The high demand is largely driven by biodiesel processors in Poland. In the first nine months of the 2023/24 marketing year, soybean oil exports from Ukraine hit a record high of 262 thousand tons, a 21% increase from the previous year, with 71% of these exports going to Poland. Despite some decline in demand in the past week, the cost of using expensive soybeans in production has prevented a decrease in supply prices.

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

Original content

According to the monitoring data of IA "APK-Inform", at the beginning of June, the offer prices on the Ukrainian soybean oil market reached the highest level since the end of March 2023, and as of June 11, they amounted to UAH 35,100-37,800/t, excluding the cost of delivery. The export prices of offers for Ukrainian soybean oil reach the level of 750-780 €/t against the demand prices of about 730-750 €/t on ex-works terms. The key factor in the increase in selling prices for this product in the current season was the high demand on the foreign market, in particular from Poland. Biodiesel processors remain the main consumers of cheap Ukrainian soybean oil. Demand prices for soybean oil delivered to Poland are around €820-830/t, while prices delivered to Holland and Denmark are offered at €880-900/t. According to the results of 9 months of work in the 2023/24 marketing year, the export of soybean oil from Ukraine reached the maximum indicator for the September-May period, amounting ...

Source: Graintrade