Soybean prices in Ukraine remain low due to falling export demand

The procedure for exporting soybeans and rapeseed from Ukraine without paying duties by producers has not yet been regulated, and in order to export, customs requires producers to pay a 10% “guarantee payment to customs” as security, and after the export is completed, they promise to return these funds within 30 days. To obtain a CCI (Chamber of Commerce and Industry of Ukraine) conclusion, the producer must provide about 12 documents, and when determining the volume of products grown by the producer, the CCI considers the maximum yield to be no more than 3.5 t/ha. Such procedures discourage producers from exporting grain, and they are increasingly inclined to sell soybeans and rapeseed for hryvnia to processors. During the week, export prices for GM soybeans remained at $388–390/t or UAH 16,800–17,000/t, and for non-GM soybeans at UAH 18,000–18,200/t or USD 420–430/t with delivery to Black Sea ports. The number of traders buying soybeans is decreasing as competition on the world ...