Soybean meal export from Ukraine to cut back by 40%: analysts

Export shipment of soybean meal from Ukraine in September-December 2020/21 was 34.5% lower YoY on the back of lower domestic processing volumes amid a decline in soybean production in the 2020 season, UkrAgroConsult reports.

Consequently, the export potential of 2020/21 will also decrease in the new season. According to analysts' estimates, the reduction will make up 40-42% compared to the previous season.

The EU countries with a market share of 45% (-35% YoY) and Belarus 29% (-21% YoY) remain the key importers.

Oilseed meal and cake production and export from Ukraine (click for full resolution)

As reported, Georgia became one of the largest importers, having doubled its purchases. The growth of export volumes was evident for such markets as Georgia (+98%), Romania (+95%), Moldova (+28%).

Analysts mark that the decline in exports was demonstrated by Turkey (-82%), Hungary (-52%) and Poland (-24%).

Related: Soybean Deficit in Ukraine

In 2020, soybean production in Ukraine totalled 2.8 mln t on 1.3 mln ha. The average yield reached 2.07 t/ha. Soybean deliveries to foreign markets from Ukraine were 40% lower YoY.

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