Soybean production in the world will grow at the expense of Russia
Russia has seen a significant increase in soybean acreage. The aggressor country has significant processing capacities and exports 20% of soybeans.
This was stated by Julia Garkavenko, Head of Analytical Department at UkrAgroConsult, at the conference Black Sea Grain. Kyiv 2024.
Every year, new soybean processing plants are built in Russia, and in the season 2024-2025, another capacity of 2 million tons is planned to be commissioned. Thus, of course, this country will need to grow soybeans if it wants to be an exporter of oil and meal.
Thus, analysts expect that the global soybean area and yield may increase primarily due to the active increase of the aggressor country’s capacity.
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