During the first six months of the 2024/25 marketing year (from September to February), Ukraine processed about 1.45 million tons of soybeans. This is the highest figure in the country's history and 57% more than in the same period of the previous season. At the same time, processing volumes exceeded the previous record of the 2019/20 marketing year by 43%.

According to APK-Inform, in February, the rate of soybean processing reached an unprecedented level - about 320-330 thousand tons per month. This is 27% more than in January, and is an absolute record for the Ukrainian industry.

One of the key factors in such rapid growth was the intensification of the work of large processing plants, which faced difficulties in purchasing sunflower. At the same time, stable growth is supported by high demand for Ukrainian soybean meal abroad, as its cost remains attractive to importers.

In total, in the 2024/25 marketing year, Ukraine may process from 2.2 to 2.3 million tons of soybeans. This is approximately 36% of the total supply of this crop, while in the previous two seasons the share of processing fluctuated within 33-35%.

Despite the growth in physical export volumes, its share in the overall balance may decrease slightly - to 57% against 58-60% in previous years. This is due to the fact that more and more soybeans remain for domestic processing.

However, the prospects for maintaining the current pace for the second half of the season remain uncertain. A record soybean harvest in South America, an increase in processing capacity in Argentina, and a glut of soybean meal are expected in the market. At the same time, global trade conflicts, in particular between the US, the EU, and China, may create new opportunities for the growth of Ukrainian exports.