Soybe prices in Ukraine continue to fall: the main factors and global trends

15 ноя, 18:03

In Ukraine, the prices of soybeans have been showing a significant decline for the second week in a row. As of November 13, 2024, the cost of soybeans with genetic modifications (GMOs) reached no more than 18 200 UAH per tonne, which was 1,000 UAH lower than it was in early November. This data provides the agro -industrial portal "APK Inform".

Compared to the same period of 2023, when soybean prices were kept at UAH 16,000 per tonne, the current indicators remain higher, but tend to fall. The decrease in soybean prices is largely due to the domestic market. Manufacturers report significant reserves, while demand remains low from both internal processors and exporters.

One of the reasons for poor export demand is the increase in soybean supply from South America to the European market, especially from Brazil, which is increasing production and offering competitive prices. In addition, GMO-Si Import permits, published in Pakistan, also intensified global competition and reduced demand for Ukrainian soybean.

Global trends also play an important role in pricing. Soybean world quotations continue to decline, as the weather conditions in Brazil contribute to successful sowing and a future record harvest. It is estimated that in the 2024/2025 the marketing year of soybean in this country can reach 169 million tons, which creates additional pressure on the world market and reduces prices.

At the Chicago Exchange, the prices for November futures for soybeans fell by 1.2%, reaching $ 371 per tonne. This is mostly due to a decrease in demand, as well as with possible new trade restrictions from China, which plans to reduce the purchases of American soybeans.

Soybeans with GMOs in Ukrainian ports have decreased by 200-300 UAH and currently amount to UAH 18,000-18 200 per tonne. In the soybean segment without GMOs, there is an even significant decrease: the cost has fallen by 20-30% and now ranges from $ 405-430 per tonne. This situation is explained by limited demand for these products in foreign markets, which in turn affects the economic stability of soybean producers in Ukraine.


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