Soybean meal price jump in Poland

Published May 12, 2023

Tridge summary

Poland's unilateral ban on Ukrainian agricultural imports, including soybean meal, has led to a shortage and a significant price increase in the country. The ban, shared by other EU countries, has disrupted the supply, forcing Polish companies to seek alternatives in Hungary and other EU countries. As a result, soybean meal prices in Poland have risen by USD 30-50/t, and Ukrainian suppliers have also seen an increase in soybean prices from processors. However, analysts predict that the strong demand in Poland will soon be met as shipments of soybean meal from Ukraine to Poland have already started by rail, which is expected to reduce prices and stabilize the market.

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

Original content

The unilateral ban on imports of Ukrainian agricultural products introduced by Poland has led to a shortage and an increase in demand for soybean meal in Poland, reports the apk-inform.com portal. – Spot prices of soybean meal in Poland jumped by USD 30-50/t as there was a shortage of product in the factories. Polish companies were counting on the Ukrainian product, but it 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 resigned from contracts and directed trucks with soybean meal to Hungary and other EU countries that did not ban imports. This also caused an increase in soybean prices in Ukraine from processors, analysts explain. Analysts also report that if at the beginning of last week the indicative prices of Ukrainian soybeans were in the range of 16-16.7 thousand. UAH/t, from May 9 they increased to 17 thousand. UAH/t. At the same time, experts assume that ...

Source: Wrp