Russian soybean exports down 22% this season

31.08.2017

Soybean exports from Russia totaled 26.1 KMT in July 2017 against 20.8 KMT in the previous month and 22 KMT in July 2016. Overall, 346.2 KMT of soybeans were exported in September-July 2016/17, or 22% less than at the same time last season, reports UkrAgroConsult. As before, soybean exports are hampered by strong domestic demand for soybean products.

As a reminder, the export market of Russian soybeans features poor diversification: they are only shipped to ten countries. However, this season, Russia exported soybeans for the first time to Iran (5% of total exports) and Mongolia (0.2%). The leading position as an importer is still held by China, which absorbs 85% of all soybean exports, though the current season witnessed a 33% decline in its purchases. In addition, Azerbaijan’s steady interest in Russian soybeans leaves the country among key buyers with an export share of 5%.

 

UkrAgroConsult

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