Ukraine: Sunflower processors switch to soy

Published Oct 6, 2024

Tridge summary

Ukrainian processing businesses are facing challenges in the sunflower market, leading some to shift their focus to soybean processing to ensure profitability. This shift is part of a larger trend, with an increasing number of plants moving towards soybean processing since October. As a result, the domestic processing market is experiencing heightened competition for soybeans. It is projected that Ukraine's soybean processing volume will reach 2 million tons this year, while the harvested soybean crop stands at 4.2 million tons and the new crop export has already surpassed 400 thousand tons.

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

Original content

This is reported by Spike Brokers analysts on Telegram. "Processing enterprises are forced to work at minimum prices in order to maintain their activities. In the face of such difficulties, some plants have decided to switch to soybean processing, which provides a more stable market and allows obtaining a higher margin. Switching to soy processing becomes an alternative to maintain profitability in the difficult conditions of the sunflower market," they explain. The latest indications of buyers: At the same time, analysts note that the domestic processing market is actively competing for soybeans, which is confirmed by the increase in the number of processing plants that have switched to soybean processing since the beginning of October. "It is expected that the total volume of soybean processing in Ukraine ...

Source: AgroPortal.ua