In 2020/21 MY, the supply of soybean will decline in Ukraine due to the lowering of planted area, declared the Chief Commercial Officer of Falkon Agro, Oleg Domanov.
At the same time, he said that the competition for soybean between processor would retain at the previous level.
“These factors could lead to growth of soybean import to Ukraine, especially since we have the cases of import”, - Domanov supposed.
According to him, in the current season, the main factor that affects the pricing on the Ukrainian market of soybean oil and meal is the shortage of soybean. Farmers take advantage of the situation and drive up the offer prices of the oilseed.
“As the result, the prices of soybean are growing in Ukraine, even when there is the depreciation on the global market. The reason for this is that processors need to fulfil the existing contracts and avoid the shutdown of their plants. Thus, Ukrainian consumers get expensive meal and oil as the export prices are not subject to our desire”, - Domanov explained.