Ukraine expects an increase in soybean exports in the new season
5.07.2024 - 16:45
The export of soybeans from Ukraine may increase by 1 million tons in 2024/25 MY.
The total export of grain and oilseeds in June amounted to 5.345 million tons. In particular, corn – 2.808 million tons, wheat – 976 thousand tons, soybeans – 178 thousand tons, barley – 105 thousand tons, rapeseed – 24 thousand tons, sunflower – 5 thousand tons.
According to Spike Brokers analysts, the export of sunflower oil last month amounted to 443,000 tons, soybean oil — 28,000 tons, cake and meal — 463,000 tons.
“In the 24/25 season, Ukraine expects a decrease in the total export of grain and oilseeds to 44.5 million tons. This will be 22% less than in the 23/24 season. The biggest decrease in exports in the 24/25 season is expected: wheat to 12 million tons (-34% compared to the 23/24 season); of corn to 22.5 million tons (-23%),” analysts noted.
The total decrease in wheat production in Ukraine, the Russian Federation and Europe will be about 20 million tons in 2024.
Also, Ukraine expects an increase in exports by 1 million tons in the 2024/25 season compared to last year.
Previously, USM reported that at the beginning of the new season, Ukraine increased grain exports almost ninefold.
