By KYIV. Sept 14 (Interfax-Ukraine) – Ukrainian processors began to actively reduce purchase prices for soybeans due to an increase in the supply of raw materials from the new harvest and its low quality, the APK-Inform information and analytical agency reported.
“At this stage, farmers predominantly receive offers of low-protein soybeans. It is because of the quality of raw materials that some companies almost completely refuse to purchase soybeans in 2023. However, given the lack of old-crop soybeans, processors who urgently need to replenish stocks to fulfill contract obligations, purchased oil in small quantities,” analysts noted.
The shortage of high-quality raw materials somewhat supports prices, experts stated and pointed out that the prevalence of supply over demand completely neutralizes this factor and puts significant pressure on prices.
According to their information, prices for soybeans for the 2022 harvest by the end of the season were UAH 18,300-21,000/tonne CPT, and for the 2023 harvest they are fixed mainly in the range of UAH 13,000-14,500/tonne CPT.
“Soybeans remain the most expensive among the three main oilseeds in the country, however, pressure from the expected increase in supply will still remain one of the main factors influencing the segment,” APK-Inform summarized.
