Ukraine's soybean meal export 3-season low in Sep-Dec 2021/22

Soybean meal exports from Ukraine in September-December 2021/22 reached the minimum for the last three seasons, 179,000 t. The volume shipped is 5% below the respective period of the previous season. The year-on-year lag has shortened and soybean processing rates have picked up, UkrAgroConsult analysts report.

Ukraine's soybean meal export potential in 2021/22 is estimated 35% higher YoY.

Belarus (+36%) and the EU countries (-27%) have remained the key buyers.

The following markets have intensified their imports of soybean meal:

• Azerbaijan +44%
• Netherlands +32%
• Poland +3%

Uzbekistan (-63%), Hungary (-62%) and Georgia (-56%) have cut their purchases of Ukrainian soybean meal.

Previously reported that China was seeking to cut its soybean meal imports to switch to alternative proteins in feed production.

In South America, soybean production is severely hit by the persisting drought.