Soy Processing in Ukraine to Increase by 30%

In 2015/16 MY, soy processing in Ukraine will increase by 30.4% (up to 1.5 million ton) against YOY, while soybeans export is expected to decrease by 13% (down to 2.1 million tons), as reported  by Ukraine’s State Informational and Analytical Centre for Monitoring International Commodity Markets (hereafter – the Centre).

Low export prices for the crop (reflecting low prices on international commodity markets) will cause decline in this year’s export costs. Still, soy processing capacities have been growing over the recent years, increasing production of soybean oil and oilseed meals.

As specified by the Centre, Ukrainian soybean oil is currently shipped to China, EU, Egypt, India, and the oilseed meals are supplied to the EU and Asia.

Countries of the European Union, Asia, North Africa and CIS are the main consumers of Ukrainian soybeans. Turkey, Iran, Italy and Egypt were the foremost importing countries in 2015.

Source: ukrapk.com

Tags: soya