Russian soybean exports continue at a record pace owing to China

09.08.2018

Soybean shipments in the 2017/18 season (September-May) remain at an all-time high of 730.1 KMT. This is almost twice as much as in the whole of MY 2016/17 (368.3 KMT), reports UkrAgroConsult. In May 2017/18, Russian soybean exports reached a record mark for this month: 55.2 KMT against 84.3 KMT in the previous month and 22.1 KMT in May 2017.

The record volumes of Russian soybean exports were achieved at the expense of higher sales to China, whose export share exceeds 87%. During the first nine months of the current season, supplies to this country increased almost threefold, to 707.1 KMT against 258 KMT a year ago. China is expected to become still more interested in buying Russian soybeans due to its complicated trade relations with the US and the desire to substitute American soybeans by every possible means. 

Russian soybean exports in the current 2017/18 season are expected to total at least 850-860 KMT.

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.

In 2017 International Conference «Black Sea Oil Trade» attracted 250 delegates from 25 countries and 150 companies. 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.

 

UkrAgroConsult

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