According to updated data by the Federal State Statistics Service (Rosstat), the soybean production in Russia in 2017 has reached the record level and amounted to 3.6 mln tonnes in clean weight, which is 15.5% higher year-on-year. Moreover, the total supply of Russian soybeans in current MY is evaluated at the rate of 5.7 mln tonnes (+7.2% y-o-y).
At the same time according to data by APK-Inform Agency the import of soybeans by Russia by the end of 2017/18 MY will amount to 1.8 mln tonnes in comparison with 1.9 mln tonnes in 2016/17 MY.
Thus the export potential of Russian soybeans in the current MY can reach up to 450 thsd tonnes which is 22.2% higher year-on-year.
