Egypt reduced imports of Ukrainian soybeans in favor of the US

Imports of Ukrainian soybeans to Egypt have decreased significantly, while demand for Ukrainian products in Europe is growing.

Ukraine has already sold 66% of its planned soybean exports in the 2024/25 MY, but further supplies may be limited due to increased supply from South America. This is reported by Elevatorist.

Tariff wars in the market create opportunities to maintain high demand for Ukrainian products. Thus, by the end of the season, 44% of Ukrainian soybeans, or more than 1 million tons, went to EU countries, which is 47% more than last year. The largest buyers were the Netherlands (304 thousand tons), Germany (144 thousand tons), Romania (122 thousand tons).

Turkey remained among the main importers of Ukrainian soybeans, although its purchases decreased by 11% and amounted to 530 thousand tons. In contrast, Egypt significantly reduced imports, almost halving its purchases and preferring soybeans from the United States.

Demand for Ukrainian soybeans from Pakistan also slowed down. After active growth in the first half of 2024, shipments decreased significantly in the last two months.

At the end of 2024, Pakistan allowed imports of GM soybeans and expected deliveries from the United States in February 2025. Despite this, Pakistan remains one of the main importers of Ukrainian soybeans, having purchased 275 thousand tons, although there are no imports until May 2024.

The day before, USM reported that corn prices in the ports of Odesa had increased by 4–6 dollars.