Ukraine to export 2 MMT of soybeans despite VAT refund cancellation
Ukraine exported 291.4 KMT of soybeans in March 2019 against 211 KMT in the previous month and 266.9 KMT in March 2018. In total, soybean exports in September-March 2018/19 fell by 32.6%, to a three-year low. As a reminder, a change in the VAT refund regulations for oilseed exports caused a decrease in soybean sales to foreign markets. However, a surge in export shipments early this calendar year narrowed the year-over-year gap, reports UkrAgroConsult.
In view of this season’s peculiarities, UkrAgroConsult forecasts soybean exports at 2 MMT.
The range of destinations for Ukrainian soybean exports remains stable this season. Some half total exports (47%) are absorbed by Turkey and 18% by Belarus, while the EU is just third with a market share of 17%. As a reminder, the European Union has switched to soybeans of American origin, while Belarus, on the contrary, steps up feedstock imports to keep its crushers operating. The top list of importers underwent some changes: Iran gave up importing Ukrainian soybeans and Egypt slashed purchases more than by half.
More information is available to subscribers for Online Analytics “Black Sea Vegoils” in the new innovative platform AgriSupp.com by UkrAgroConsult. Agrisupp is a reliable analytical tool for agri market participants with historical and current market data, daily updates on grain, oilseed and pulses markets.
We offer 2-week trial! Completely free!
Read also
The 21st International Conference BLACK SEA GRAIN.KYIV took place in Kyiv on April...
Lithuania has almost stopped importing grain from Russia and Belarus, but transit ...
Ukraine exported almost 40 million tons of grain
EU countries increased oilseed processing volumes in March
Soybean prices in Ukraine are rising against the backdrop of delayed deliveries fr...
Write to us
Our manager will contact you soon