The EU market lacks 50-100k tons of organic soybean
There is a deficit of 50-100 thou. tons in the European market of organic soybean. Such an assessment was voiced by Alexander Ushakov, the founder of UA GROUP, the owner of the Trade House Soyevyi Vik, APK-Inform writes.
"Regarding soybeans, there is a deficit in the EU market, which opens prospects for Ukraine. The deficit of organic soy is 50-100 thou. tons, and it cannot be covered by the European producers. To date, the price of European organic soybean ranges at around USD 800 per ton. Accordingly, the Ukrainian producers' interest in organic soy increases," he said.
According to Alexander Ushakov, it is important to understand that it is simply impossible to start organic production in one day. For this, one has to pass the transition stage, different levels of certification, etc.
"At the same time, despite all the difficulties, Ukrainian producers realize that organic soy is much more cost-effective than the traditional one," he noted.
Reference: on the Chicago Mercantile Exchange (CME), July wheat contracts decreased by 4% to USD 499 per 100 bsh. last week (June 11-15), corn — by 4.4% to USD 361 per 100 bsh., soybean — by 6.7% to USD 904.5 per 100 bsh.