By KYIV. Nov 7 (Interfax-Ukraine) – Since the beginning of November, Ukraine has exported 110,000 tonnes of soybeans, prices for it on world markets are growing, the Start (Pusk) analytical cooperative, created within the framework of the Ukrainian Agrarian Council, reported at a weekly briefing on November 7.
According to the report, more than 500,000 tonnes of soybeans were contracted for sale in November.
“Ukrainian soybeans are significantly cheaper than Brazilian or American ones, which have increased in price over the past week. Therefore, on a FOB basis, prices for Ukrainian soybeans have begun to rise, and supply is low,” analysts noted.
According to their forecasts, despite the record soybean harvest in Ukraine, which exceeded 5 million tonnes, the global market situation will contribute to an increase in domestic purchase prices for it.
“Ukrainian oilseeds will rise in price as a result of rising world prices. In the next two weeks we will see an increase of 5-10 $/tonne at the ports. Currently, the Danube and Odesa ports indicatively cost at the level of 300-400 $/tonne, actual prices are higher. A lot from 400,000 tonnes can be sold at a higher price. The demand is high,” the experts emphasized.
At the same time, domestic processing enterprises offer purchase prices in the range of UAH 14,200-14,500/tonne.
“In the coming weeks, indicators may increase by UAH 500–1,000/tonne,” the council said and added that rising soybean prices will support demand for soybean meal, which has risen in price on world markets by $20/tonne over the past two weeks.
