Soybean oil is getting cheaper in Ukraine – why?




Since the beginning of the new 2023/24 MY, the upward price trend in the Ukrainian soybean oil market, which remained during the previous two months, changed to a downward one. This is evidenced by the monitoring data of APK-Inform Agency.

“Inflows of new crop high-quality soybeans have been relatively subdued since early September, with many producers noting a tight supply of soybean oil. Nevertheless, customer demand for these products was extremely restrained, and they were mainly purchased in small batches, waiting for a seasonal decrease in offer prices. Taking into account the current situation, as well as the acceleration of the new crop soybeans arrivals, processors reduced the bid prices of products", notes Svitlana Kyrychok, an analyst of the oilseed market at APK-Inform.

Thus, since the beginning of September, the offer prices for soybean oil on the domestic market of Ukraine have decreased by 1`100-2`800/t UAH and currently vary between 31`200-33`200 UAH/t EXW. Last year in September, the offer prices for this product were mainly in the range of 41`500-44`500 UAH/t EXW.

You can learn more about the price trends of the Ukrainian fat and oil industry during the XXI International Conference "Fat&Oil Industry-2023", which will be held on October 23 in Lviv (Ukraine).

You can register for the conference on the APK-Inform website.

The lowest price is valid until September 22!