Export prices of Ukrainian GM soybean growing – APK-Inform

Source

APK-Inform

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According to APK-Inform, since the start of the current week, the export prices of GM soybean have been growing after the decline in March.

The prices are supported by stronger demand from European buyers in a time when the supply is slow, as the border checkpoints are overloaded. High logistic prices are also pushing the soybean prices up. Stronger prices on the global market amid weaker export of Brazilian soybean in April, high demand for US soybean and strike in Argentina support the Ukrainian market too.

The bid prices of GM soybean increased by average 10 USD/t to 530-560 USD/t DAP as of April 7.

The market participants do not exclude that the prices may start declining again in mid-term due to high number of offers on the domestic market and low demand from processors, some of them suspender purchases, as they have accumulated stocks.

Follow our newswire to stay informed about further development of Ukrainian oilseed market.

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