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.
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.
