Domestic soybean prices hit their highest since the start of the season

23/05/2024 10:02

An increase in purchase prices for soybeans remains characteristic of the Ukrainian domestic market. This was reported by the analysts of AI "APK-Inform".

The prices of oilseeds are mainly increasing for the third month in a row and as of May 22, they reached UAH 17.6-19 thousand/t SRT, which is the maximum since the beginning of the current season.

“However, demand for soybeans from exporters is currently estimated to be moderate due to strong competition in the world market from South American soybeans. Demand among processors is also quite low due to unattractive prices on the soybean meal market," the analysts noted.

Given the current situation, today the main volume of soybean trade in Ukraine is concentrated on the domestic market.

 

"Some processors continue to raise prices to attract more soybean offers, but not significantly - on average only by 100-200 UAH/t, because farmers continue to hold back the sale of this crop," the analysts concluded.

An increase in purchase prices for soybeans remains characteristic of the Ukrainian domestic market. This was reported by the analysts of AI "APK-Inform".
The prices of oilseeds are mainly increasing for the third month in a row and as of May 22, they reached UAH 17.6-19 thousand/t SRT, which is the maximum since the beginning of the current season.
“However, demand for soybeans from exporters is currently estimated to be moderate due to strong competition in the world market from South American soybeans. Demand among processors is also quite low due to unattractive prices on the soybean meal market," the analysts noted.
Given the current situation, today the main volume of soybean trade in Ukraine is concentrated on the domestic market.
"Some processors continue to raise prices to attract more soybean offers, but not significantly - on average only by 100-200 UAH/t, because farmers continue to hold back the sale of this crop," the analysts concluded.
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