russia’s soybean crop to set a new record

UkrAgroConsult

Article author:

Svitlana Kupreeva

Oilseed Market Analyst

In MY 2021/22, the soybean harvest in russia is a record – about 4.8 M mt per crop area and yield growth.

MY 2021/22 passed amid state regulatory measures aimed at limiting raw material exports, curbing domestic price growth, meeting the feedstock needs of crushers and providing livestock raisers with feed.

The export and import of soybeans decreased by 46% and 8%, obviously, the export of soybean oil was closed on a par with the past year, soybean meal reached a record mark.

In MY 2022/23 Russia will continue to try to balance the market, create a mind for the growth of soy and a decrease in imports, in MY 2022/23 will continue to carry out state regulation.

According to forecasts, harvest will reach a record 5.7-5.8 M mt, not only for the expansion of the area by 13%, but also for the record yield.

The export markets will remain roughly the same.

russia’s long-term goal consists in further increasing production and processing of oilseeds, with soybeans – the main component of high-protein feed – set to play a major role among them.

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Tags: Russia, soybean oil, soybean, soybean meal