From September to July of the 2024/25 marketing year, soybean exports from Ukraine totaled 3.97 million tons, which is 28% higher than the figure for the same period in the 2023/24 marketing year, already setting a historical maximum for the season.
Export rates have significantly increased due to a record soybean harvest in Ukraine in 2024, as well as attractive prices and proximity to leading global importers, notes agronews.ua.
Among the largest buyers of Ukrainian soybeans this season are: Turkey (968.6 thousand tons; +39% compared to the previous season), Egypt (673 thousand tons; -31%), and the Netherlands (546 thousand tons; a 2.7-fold increase).
It is projected that the total volume of soybean exports from Ukraine in the 2024/25 season may reach around 4.1-4.2 million tons (+26%), which would be a new record for this industry. However, in the next season of 2025/26, a decline in export volumes of more than a third to 2.7 million tons is expected due to anticipated production declines, possible introduction of export duties, and the continued attractiveness of the domestic market for processing.
Ukraine once again demonstrated record figures in soybean production and exports, thanks to high yields and favorable market conditions. Forecasts for the next season indicate a decrease in exports, but the industry remains one of the key sectors in the country's agricultural sector.