Ukraine’s market of soybeans and soybean products: 2020/21 results and 2021/22 outlook
UkrAgroConsult
Article author:
Soybean plantings in 2020/21 season shrank for a third consecutive season as a consequence of the state taxation policy, to 1450 Th ha (-18% from MY 2019/20). The soybean crop was at a seven-year low of 2912 KMT (-35% from MY 2019/20).
The main feature of MY 2020/21 was strong demand for non-GM soybeans, high premiums exceeding USD 100/MT compared to GM soybeans. Soybean crush slumped by 30% (1.22 MMT vs. 1.75 MMT in MY 2019/20).
The planted area for 2021/22 season is (-7% from MY 2020/21). Soybeans hardly can compete with sunflower, whose planted area hit a new high. At the same time, the crop will recover by 10-15% due to more optimistic yield forecasts.
Real-time harvest progress data show a significant harvest delay.
The beginning of MY 2021/22 features a soybean shortage and consequently slack trade, low export shipments, which are expected to intensify in the latter half of October, and growth in domestic soybean prices despite progressing harvest.
Full version of the article is available to subscribers for Online Analytics “Black Sea Vegoils” in the new innovative tool for agri market participants – AgriSupp by UkrAgroConsult. Subscribe to a 7-day free trial!!
Start using analytical data and increase your efficiency now!
Register to get your demo access: http://agrisupp.com/en/register/1
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon