Agrinews

June 20, 11:40 Source: APK-Inform Views: 300

Russia strengthened its positions on the global soybean market - APK-Inform

Due to increasing of the production volumes of soybeans during recent years, Russia significantly strengthened its positions in the reporting segment of the world market, declared Elena Karasik, analyst of APK-Inform Agency, on June 19 during her speech in Odessa at the international conference "Ukrainian soybean market - 2014".

According to the USDA, Russia comes to the TOP-10 of countries-leaders of soybean exports in the current season. According to estimations of APK-Inform Agency, in the current season the exports of soybeans from the Russian Federation is estimated at the level of 50 thsd tonnes, while in 2010/11 MY the index totaled 719 tonnes only, said the expert.

However, E.Karasik noted that the share of Russia in the global exports of the oilseed remains quite low - less than 1%.

Russian soybean sector is more focused on domestic processing than the export market. Thus, nearly 90% of the available oilseed supply in the country comes to the domestic consumption. The Far East region is the most export-oriented among the regions of Russia - most of the harvested oilseed volumes in the region is not processed, but exported mainly to China, said the expert.

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