Despite lower soybean crop in Ukraine in 2020/21 MY and tough supply and demand balance on the Ukrainian market, the surplus of the oilseed has formed on the market by mid-February, the Head of sales with Astarta-Kyiv Agri-industrial Holding, Ostap Palchevskyi told to APK-Inform.
“We entered 2020/21 MY with soybean crop at 1 mln tonnes lower compared to the previous season. However, if we analyze the progress of soybean usage, we see that its processing and export have totaled 1662 thsd tonnes as of February 19. It is 1285 thsd tonnes lower compared to the same date of 2020. Otherwise speaking, no one noticed how the deficit of soybean at 1 mln tonnes turned into the surplus at 285 thsd tonnes. This surplus continues growing”, - Palchevskyi said.
The expert supposes that farmers will realize the fact of large stocks of soybean in hand sooner or later. It may cut the premium processors pay.
Palchevskyi says the interest of farmers to soybean will restore in the new season due to the market development.
