Soybean prices have risen in Ukraine this week

Published Apr 24, 2024

Tridge summary

Soybean prices in the Ukrainian market are experiencing an increase due to heightened competition between exporters and processors. Local processors have raised the cost of GMO soybeans by 200-300 hryvnia, and non-GMO soybeans by 300-500 hryvnia. Exporters are offering transgenic and non-transgenic oilseeds for delivery to Black Sea ports at varying prices. The urgency for processors to replenish their stocks before the new agricultural season and producers withholding sales in anticipation of higher prices are the primary reasons for the price hike. However, the market may see a decrease in prices in May with the influx of new crops from Latin America.

Additional factors such as hot weather in June and the sowing results in the United States may lead to further price increases.

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

Original content

Soybean prices on the Ukrainian market have begun to rise since the beginning of this week amid increased competition between exporters and processors. OleoScope reports this with reference to GrainTrade data. In particular, the cost of this crop with GMOs from local processors increased by 200-300 hryvnia or 475-715 rubles per ton to 17.5 - 18 thousand hryvnia or 41,665 - 42,855 rubles, and without them - by 300 - 500 hryvnia or 715 – 1,190 rubles to 18.5 – 19 thousand rubles or 44.05 – 45.24 thousand hryvnia. Exporters offer transgenic and non-transgenic oilseeds with delivery to the ports of the Black Sea for 18.6 - 18.8 thousand and 19 - 19.5 thousand hryvnia or 44.285 - 44.76 and 45.24-46.43 thousand rubles, respectively. Analysts cited the urgent need for processors to replenish their own stocks before the start of the new agricultural season for this crop as one of the main reasons. An additional factor, according to experts, was the restraint by agricultural producers from ...

Source: Rosng