China still the top buyer of Russian soybeans

10.04.2017

Soybean exports from Russia totaled 41.2 KMT in February 2017 against 41.5 KMT in January 2017 and 65.3 KMT in February 2016. Altogether, 188.9 KMT of soybeans went abroad in September-February 2016/17, or 31% less than at the same time in 2015/16. As before, soybean exports are curbed by strong domestic demand for oilseed products, reports UkrAgroConsult.

Noteworthy, Russia’s export market features poor diversification: the range of export destinations includes just eight countries. In September-February 2016/17, 88% of total soybean exports were absorbed by the traditional destination countries: China (88% of total exports), the USA (5%) and Iran (5%). China is still the top buyer of Russian soybeans.

 

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