Soybean export prices in Ukraine are growing in line with world quotations

Published 2024년 9월 6일

Tridge summary

Competition among soybean exporters and processors in Ukraine is escalating due to dwindling harvest forecasts, leading to an increase in export purchase prices for GMO and non-GMO soybeans. In 2023/24, Ukraine achieved a record soybean export of 3.26 million tons, with a notable increase in supply to Egypt and decreases in exports to the EU and Turkey. Additionally, the article reports on the impact of adverse weather conditions on soybean crops in the United States, China, and Brazil, affecting yield and production predictions.

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

Original content

In Ukraine, competition between soybean exporters and processors is intensifying against the backdrop of declining harvest forecasts. During the week, quotations on world exchanges exceeded the export prices of the demand for Ukrainian soybeans. This is reported by GrainTrade. Export purchase prices for GMO soybeans in Ukraine increased by another 5-10 $/t during the week to $375-380/t or UAH 17,300-17,500/t with delivery to Black Sea ports, while processors with delivery to the plant offer 16,000 - UAH 17,000/t. Export prices for non-GMO soybeans also increased in ports by $5-10/t to $410-420/t or UAH 19,700-20,000/t, but processors are willing to pay UAH 19,500-20,000/t with delivery to the factory. At DAP - the border of Poland and Hungary, demand prices increased by 5-10 €/t to 400-410 €/t. In 2023/24, Ukraine exported a record 3.26 million tons of soybeans, which exceeded the previous record of 3.1 million tons in the 2022/23 season by 5%. Soybean supplies to Egypt increased ...

Source: Agrobusiness