EU becoming a more significant importer of Russian soybean meal


Overall, 317.8 KMT of Russian soybean meal was supplied to foreign markets in the first ten months of MY 2017/18, or 19.5% more than a year ago (266 KMT), reports UkrAgroConsult. In June 2018, soybean meal exports remained at the May level: they totaled 40.8 KMT, or 20.7% more than in June 2017.

The range of soybean meal export destinations remains stable this season. As a year ago, the top importers include the EU (79% of total exports), Norway (9%), Uzbekistan (7%) and Ukraine (4%). The difference is that supplies to European countries increased, while those to the other countries, on the contrary, dropped.

Noteworthy is that Russia minimized soybean meal purchases in the current 2017/18 season – it imported just 27 KMT during the first ten months. The seasonal volume varied within 0.4-0.5 MMT before.

Detailed analysis of the latest trends in oilseeds/vegoils/meals exports, palm oil imports, supply and demand balances with breakdown by crop as well as crop conditions and progress in planting/harvesting in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Vegoils" by UkrAgroConsult.

Further prospects of the Black Sea oilseeds/vegoils market will be discussed at the VI International Conference “Black Sea Oil Trade”, which will take place on September 20, 2018 in Hilton hotel, Kiev, Ukraine.

Delegates from 20 countries have already registered for participation in the International Conference «Black Sea Oil Trade». Conference participants are usually represented by producers and crushers of oilseeds, traders, enterprises for deep processing of vegetable oils, investment companies, banks, law, shipping, brokerage, insurance and surveyor companies.




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