Soybean oil exports in September higher by a quarter

In September 2018/19, soybean oil exports from Ukraine amounted to 11.4 thou. tons, which is 25.3% higher than in September last year (9.1 thou. tons) due to the record-breaking September soybeans processing, UkrAgroConsult reports.

In September of the current season, export volumes delivered to the EU, the main buyer of Ukrainian soybean oil, rose to 8.6 thou. tons against 5.2 thou. tons a year earlier.

China imported 2.5 thou. tons, having slightly increased the volume of purchases. These key importers account for 97% of all exports. At the same time, in September of this year, a certain tightening of the sales markets was observed as compared with the relevant period last year.

As it was reported previously, in 2018/19 MY, Ukraine had the potential to increase the production of all types of vegetable oils and meals — sunflower, soybean and rapeseed. First of all, this will be possible due to the expected growth of sunflower processing by 10% y-o-y, soybeans — by 20% and rapeseed — 2.5 times.