Egypt becoming the top importer of Ukrainian soybeans

15.12.2016

In November 2016, Ukrainian soybean exports revived and their monthly total hit a record high.

Thus, according to UkrAgroConsult data, 537.6 KMT of soybeans were exported in November, or almost three times as much as in October (192.1 KMT) and up more than 20% on November 2015 (445.2 KMT). Export statistics for MY 2016/17 (September-November) also beats records: shipments to foreign markets reached 795.5 KMT that is up more than 15% from last year (688.5 KMT).

The country that became the top importer of Ukrainian soybeans in the three months was Egypt, which built up deliveries to 137.3 KMT (17% of total exports) against 32.2 KMT a year ago. A similar situation is seen in the market of Iran. So, this season’s exports have totaled 181 KMT against just 44 KMT a year ago (roughly 27%).

Taking into account the brisk foreign trade in soybeans in the first months of 2016/17 along with current information on December exports, UkrAgroConsult raises its soybean export forecast for MY 2016/17 to 2.5 MMT.

 

UkrAgroConsult

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