The export of soybeans from Ukraine in 2022/23 MY can reach record-high for the past 5 seasons.
According to APK-Inform Agency analysts, the export of soybeans from Ukraine in the current season will total 2.66 mln tonnes, which is 91% higher y-o-y.
The main importers for the 8 months of 2022/23 MY (September-April) are the EU (48% of the total; annual growth is 3.2 times), and Turkey (37%; annual growth is 2.7 times).
APK-Inform analysts note that in the current season, Ukrainian farmers increase the production of soybeans due to higher area. Thus, the crop amounted to 4 mln tonnes.
Next season, soybean production may increase even more. According to APK-Inform forecasts, the planting area may be expanded to 1.7 mln ha (+8% y-o-y), and production – to 4.2 mln tonnes (+6%), to be the highest for the past 4 years.
You can find more up-to-date information about the oilseeds market in the Black Sea region and Europe at the international conference “VegOil Trade”, which will be held on June 8-9 in Rotterdam.