11 September 2023

In August 2023 Ukrainian soybeans export made just 34k tons.

In July-August, the export of Ukrainian soybeans decreased significantly compared to the previous months, which was caused by a significant reduction in soybean stocks in Ukraine as a result of active export and processing during the season.

In total, for the 2022/23 marketing year, Ukraine exported 3.1 million tons of soybeans, compared to 1.4 million tons in the previous season.

According to our estimates, soybean crush in Ukraine in the marketing year amounted to about 1.4-1.5 million tons of soybeans, while final stocks at the end of the season is no more than 200,000 tons.

The monthly dynamics of exports are shown in the graph below:

The main buyer of Ukrainian soybeans in the season that just finished was Turkey, which accounted for more than a third of all Ukrainian exports.

Soybeans were mainly exported through alternative logistics routes – the Danube ports and by rail through the western borders. Only a third of soybeans were exported through deep-water Ukrainian ports within the grain corridor.

The export of soybean oil in August also significantly decreased compared to previous months, amounting to only 12 thousand tons. In total, during the 2022/23 season, Ukraine exported approximately 277,000 tons of soybean oil, which is equivalent to 1.4-1.5 million tons of soybeans.

Our recent overview of the Ukrainian soybean market can be found at the link.