15 October 2023

According to our estimates in marketing year 2023/24 in total Ukraine is to export more than 3 million tons of soybeans.

According to customs statistics, in September 2023, Ukrainian soybean exports amounted to 200,000 tons, which is higher than the previous month (34,000 tons), but less than what was exported in September 2022 (249,000 tons).

As a reminder in 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 the marketing year 2022/23 amounted to about 1.4-1.5 million tons of soybeans, the ending stock 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 export of soybean oil in September amounted to 16.5 thousand tons (in August - 12 thousand tons). 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.

In 2022, the largest soybean processors in Ukraine were MHP, Astarta and the ATK group. These companies were also the largest exporters of soybean oil in the 2022/23 season.

In 2023, according to official data, the total sown area of soybeans in Ukraine is about 1.8 million hectares. As of October 5, 3.1 million tons of soybeans were harvested in the country from 1.2 million hectares (67% of the planned area) with an average yield of 2.56 t/ha (2.26 t/ha in 2022).

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