Russian soybean meal exports closed MY 2016/17 at a four-year low

23.10.2017

Soybean meal exports from Russia totaled in August 2017 fell to 17.7 KMT against 29.3 KMT a month earlier and 28.9 KMT in August 2016. A total 313 KMT was supplied to foreign markets in the 2016/17 season, or 34% less than at the same time last season (474.6 KMT). As a reminder, following the 2016 soybean crop decrease, Russia cut export supply of soybeans in favor of domestic consumption, reports UkrAgroConsult.

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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