Russian soybean exports to China hitting new highs

16.03.2018

Soybean exports from Russia reached a record some 92 KMT in December 2017/18 against 73.7 KMT in the previous month and 61.2 KMT in December 2017. Overall, soybean shipments in the current 2017/18 season (September-January) stayed at the highest level: they totaled 248 KMT, i.e. almost 68% more than at the same time last season (147.7 KMT), reports UkrAgroConsult.

In MY 2017/18, Russian soybean exports are focused on the key importers. So, export shipments to China grew to 227.6 KMT versus 89 KMT a year ago, while those to Iran rose to 17.4 KMT versus 5.9 KMT in 2016/17. These were the largest volumes ever supplied by Russia to the above countries.

Consequently, China’s share in total exports increased to 92% versus 84% a year ago and the share of Iran expanded to 7% versus 5.5%. As a reminder, Russia opened the Iranian market last marketing year (2016/17) and supplied 20.6 KMT of soybeans there for the entire season.

 

UkrAgroConsult

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