Despite the war, Ukraine reduced soybean exports by only 5% in 2021/22 MY

According to preliminary data, in 2021/22 FY Ukraine exported 1.39 million tons of soybeans, which is only 5% less than the previous season.

At the same time, soybeans were almost the only crop of the oil industry whose average monthly export rates during the war slightly increased compared to the previous period. Thus, in March – August 2022, the export of soybeans amounted to 507 thousand tons, which is 65% higher than the figure for the same period of 2020/21 FY.

The EU and Turkey became the main importers of Ukrainian soybeans in 2021/22 MR. But if the EU increased imports of domestic soybeans by 76% in March and August, and by 36% in the season as a whole, Turkey reduced its purchases at the beginning of the season, and increased them again starting in May.

In total, 536,000 tons of soybeans were shipped from Ukraine to Turkey in 2021/22 FY, which is 2% less than in 2020/21 FY. At the same time, in March – August 2022, the export of soybeans to Turkey tripled compared to the corresponding period of the previous season.

Tags: Ukraine, export, soybean