Ukrainian Soybeans: Return to Global Markets

Ukrainian soybeans are returning to global markets, demonstrating a significant recovery from the challenges faced by the industry due to the pandemic and geopolitical upheavals. Thanks to increased yields and improved quality, Ukrainian farmers are gradually regaining their role among the main suppliers of this crop to international markets.

Soybeans are one of the key agricultural crops grown in Ukraine and are of great importance to the country’s economy. Over the past few years, Ukraine has struggled with challenges arising from war, climate change, and shifts in global trade chains. However, 2024 showed positive changes. According to the State Statistics Service, the soybean harvest in Ukraine in 2024 was about 3.5 million tons, which is 15% more than the previous year.

One of the main reasons for the recovery of Ukrainian production is the ability of Ukrainian farmers to adapt to new conditions and apply innovative growing methods. Ukrainian farmers are actively working to improve soil cultivation technologies, fertilizer application and pest control, which allows them to increase yields and improve product quality. Combined with favorable climatic conditions, this creates the prerequisites for further growth in soybean production in Ukraine.

In addition, the development of soybean processing infrastructure also contributes to increasing its competitiveness on the world market. The number of factories processing this crop is increasing in Ukraine, which allows them to produce more oil, meal and other products that are in demand among international buyers. However, the main advantage remains the price, since Ukrainian soybeans are mostly cheaper than analogues from other countries.

The main importers of Ukrainian soybeans remain the countries of the European Union, China and India. The EU, in particular, has become the largest buyer of Ukrainian soybeans due to the high demand for this crop in the processing industry, which uses it to produce animal feed. China and India are important partners in exporting soybeans for the feed and food industries. In recent years, demand for Ukrainian soybeans has also been growing from countries such as Turkey, Egypt and the Middle East.

It should be noted that in 2024, Ukraine increased soybean exports by 12% compared to the previous year, which is a great achievement. Exports allow Ukrainian farmers not only to maintain a stable level of income, but also stimulate the development of the industry as a whole. The growth in export volumes also indicates that Ukrainian soybeans are regaining confidence in the world market, which makes it possible to improve trade relations with other countries.

In summary, it can be said that Ukraine is returning to the number of leading soybean producers on the world market due to increased yields, improved growing technologies and the development of processing infrastructure. In the coming years, there are all the prerequisites for further growth in export supplies and strengthening the positions of Ukrainian soybeans in international markets.