Key soybean meal importer tripled its purchases
The European Union remains the key market for Ukrainian soybean meal with a 60% share of supplies. The volume of imports in September tripled from the prior year's comparative period, UkrAgroConsult reports.
Exports to Belarus increased significantly, while Poland and Hungary increased purchase volumes by 216 and 211%, respectively.
Total exports of soybean meal from Ukraine in September this year became a record for the reporting period — about 67 thou. t.
"The surge in shipments was due to the reduction of finished product stocks amid a slight increase in soybean processing volumes," analysts noted.
In 2019/20, the export of soybean is projected to decrease. This indicator for 2018/19 reduced by 6%. The decrease in soybean harvest will lead to a decrease in raw material processing volumes.
As a reminder, in 9M 2019 Ukraine exported oilseeds by USD 1.65 bln, almost a quarter (+23.2%) more from the corresponding period of the previous year.
The new edition of the infographic guide Ukrainian Agribusiness 2018/19 is available for download.