Purchase prices for soybeans in Ukraine are beginning to fall
Soybean
Ukraine
Published Nov 25, 2022
Tridge summary
Regular missile attacks on the Ukrainian energy infrastructure by Russia, recognized as a sponsor of terrorism, but in fact a terrorist country, complicate the work of processing enterprises, which shortens their working hours. Soybean processing is very unstable, especially given the low rate of export of processing products, mainly through the western borders. The shutdown reduces demand for soybeans and lowers prices. In addition, demand prices for soybeans from European buyers are also falling.
Original content
In Ukraine, purchase prices for soybeans with GMOs decreased by 500-1000 UAH/t to 12500-13500 UAH/t SRT plant depending on the region, while exporters in the French economy offer 12-13 thousand UAH/t for it. Export demand prices for deliveries to Danube and Black Sea ports are $350-370/t, with delivery to Romania or Hungary – $450-480/t, but demand from the EU is decreasing. The export of soybeans from Ukraine decreased by 51.5% to 58.3 thousand tons during the week, and the total for the season reached 725 thousand tons. The main buyers were Turkey and Romania, where soybeans were transshipped from Danube ports to large ships. According to the Fediol Vegetable Oil and Meal Industry Association, EU countries processed only 716,000 tons of soybeans in October, which is the lowest October figure in the last 9 years. The import of soybeans in the 2022/23 MR decreased in comparison with the previous season by 15% to 3.976 million tons, as the import of sunflower grew from 0.15 to 1.07 ...
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