Russia soybean meal exports at four-year low

24.10.2017

Soybean meal exports from Russia in August 2017 fell to 17,700 tonnes, which compared with 29,300 tonnes a month earlier and 28,900 tonnes in August 2016, according to a report from UkrAgroConsult. A total of 313,000 tonnes was supplied to foreign markets in the 2016-17 season, or 34% less than at the same time last season (474,600 tonnes).

UkrAgroConsult noted that the 2016 soybean crop decreased due to Russia’s cut export supply of soybeans in favor of domestic consumption.

In the 2016-17 season, soybean meal exports faced not only a drop in the number of their end markets, but also shrinkage of remaining ones. Overall, the market is still focused on European consumers, which absorbed 79% of total exports. The second traditional destination remains Uzbekistan, which accounts for 13% of the market.


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