Ukrainian oilseeds export digest July 2017

7 August 2017

In July Ukrainian soybeans export has been at the lowest since the start of MY2016/17 level, while export of sunflower oil remains very active and already exceeded initial expectations for the whole season.

In reporting month Ukraine exported close to 510k tons of sunoil (USD 374M), which approximately corresponds to June export volume, however y-o-y it grew by 40%. Since the start of current season Ukrainian sunflower oil export already exceeded 5M tons and up to the August 1st made 5.45M. It is higher vs. our initial expectations of 5.2M tons, which can be indirect evidence that factual Ukrainian sunflower seeds crop in Y2016 was higher vs. official figures (13.6M tons).

Average sunflower oil export price in June comprised USD 734/t (on the level of previous month).

Monthly export dynamics looks as follows:

Ukrainian sunoil export dynamics July 2017

Export of Ukrainian soybeans since the beginning of April has been much less active vs. previous months. In July soybeans export made just slightly above 50k tons vs. 138k tons in May and 100k tons in June.

General soybeans export dynamics in MY2016/17 is represented on the chart below:

Ukrainian soybeans export dynamics July 2017

In total since the beginning of current season Ukrainian companies exported more than 2.86M tons of soybeans (in Y2016 total Ukrainian soybeans harvest made 4.3M tons), which is higher than in the whole previous season (about 2.4M tons).

Soybean oil export in last reporting month made almost 15k tons (by 5k tons lower than in June) for USD 11.2M. Oilseeds meals (mainly sunflower meal) export in June made 408k tons (USD 70M).

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