Spread Between GM and Non-GM Soybeans in Ukraine Narrows to $35–40 per tonne

Over the past three weeks, the price of GM soybeans in Ukraine has increased by $20/t. At the end of last week, it was trading at $415–417/t CPT seaports for delivery in November. The price increase is being driven by stable export demand, limited logistics, and low yields and supply, according to Spike Brokers.

The spot price index for GM soybeans for export for delivery within 30 days increased by another $7 excluding VAT to $412/t. The index for processing also increased by $6 to $450/t including VAT.

The premium for non-GM soybeans has decreased to $35–40/t relative to the price of GM soybeans.

At the same time, brokers note that the correction in the price of American soybeans has become a factor in cooling the previous growing trend.

Tags: Ukraine, prices, soybean