In the first half of the season-2017/18, Ukraine exported record volumes of soybeans

In the first half of the season-2017/18, Ukraine exported record volumes of soybeans

In the first half of the season-2017/18, Ukraine exported record volumes of soybeans

The FINANCIAL -- In September-February of 2017/18 MY, soybean exports from Ukraine reached the maximum level at 2 mln tonnes, an increase of 5% compared with the previous record, fixed in the same period last season.

TOP-5 of countries-buyers of Ukrainian soybeans covered 70% of the general exports. In particular, Turkey imported nearly one quarter of the reporting volumes – more than 500 thsd tonnes (up 2% compared with last season), Iran – 16%, or 310 thsd tonnes (down 17%), Egypt – 12%, or 240 thsd tonnes (down 47%), the Netherlands – 10%, or 190 thsd tonnes (no exports), and Belarus – 8%, 154 thsd tonnes (up 2.4 times).

In all probability, in the second half of the current season there will be a significant decline in the export rates of the oilseed, forecasted the oilseed market analyst at APK-Inform Agency, Julia Ivanitskaya.

According to her, rather active domestic processing of soybeans and high competition rates for raw materials between oilseed processing enterprises and exporters, caused a rapid decline in the free stocks.

Taking into account the forecast of soybean exports from Ukraine in 2017/18 MY at the level of 2.45 mln tonnes, to date the country realized the potential at 80%. Thus, in the current season Ukraine will not be able to exceed the record of the previous MY – 2.9 mln tonnes.