The domestic processing of soybeans in Ukraine continues to demonstrate high rates. Thus, according to APK-Inform estimates, in February the country processed the absolute monthly maximum of 320-330 thsd tonnes of soybeans (+27% y/y).
In September-February of 2024/25 MY, Ukraine processed the record 1.45 mln tonnes of soybeans, up 57% compared to the same period last season and 43% compared to the previous high of 1 mln tonnes in the first half of 2019/20 season.
This significant increase was primarily due to the large-scale soybean processing plants entering the market due to the difficulties with sunflower procurement. However, the high processing rates have been maintained for several months in a row due to the active export of soybean meal, which is attractive for importers.
In total, in the season-2024/25, the country can process up to 2.2-2.3 mln tonnes of soybeans, which is about 36% of the total supply of the crop, compared to 33-35% in the previous two seasons.
It is worth noting that the share of soybean exports, despite the increase in physical terms, may decline to 57% in MY compared to 58-60% in previous seasons.
However, it is worth noting that the prospects for soybean processing in the second half of the current season look a bit pessimistic. The global market is expecting a record soybean harvest in South America, increased processing in Argentina and increased supply in the soybean meal sector, which has been overloaded in the last few seasons.
Moreover, the probability of increased tension in the US-EU trade relations, as well as the already imposed tariffs in the soybean sector by China may contribute to the high demand for Ukrainian raw materials on the foreign market, which will shift the vector of the crop distribution on the domestic market in favor of exports.
More details on the current state, trends and forecasts of the Ukrainian soybean market will be presented by Svitlana Kyrychok, APK-Inform's leading analyst, during the conference “Soybean and Meal Market 2025”, which will be held on March 27 in Kyiv.
To register for the conference, please visit APK-Inform website.
