The prices of soybean oil in Ukraine exceeded the annual maximum

Published Jun 13, 2024

Tridge summary

The Ukrainian soybean oil market has seen a surge in offer prices, reaching their highest since March 2023 due to increased demand, particularly from Poland. As a result, exports of soybean oil have hit an all-time high for the September-May period, increasing by 21% compared to the previous year, with 71% of these exports going to Poland. Despite a slight decline in demand in the past week, the high cost of soybeans used in production has prevented a drop in supply prices.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the monitoring data of IA "APK-Inform", at the beginning of June, the offer prices on the Ukrainian soybean oil market reached the highest level since the end of March 2023 and as of June 11 amounted to UAH 35,100-37,800/t without taking into account the cost of delivery. The main factor in the increase in selling prices for this product in the current season was the high demand on the foreign market, in particular from Poland. Thus, according to the results of 9 months of work in 2023/24 MR, the export of soybean oil from Ukraine reached the maximum indicator for September-May, amounting to 262 thousand tons (+21% compared to the same period of 2022/23 MR). About 71% of total exports went to Poland, the volume of shipments there in the current season ...
Source: Agravery
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