Prices for soybeans rise, and the background of growth of export demand

Ukrainian farmers continue to increase exports of soybeans. Last year only Egypt was able to export once in eight times, the press service of DFS.

soybean Exports in 2016 increased by 23% and reached 2.7 million tons. In monetary terms this is 985,5 million dollars. The main importers of domestic soybeans remain the three countries.

the first line came out of Egypt, who has acquired at 298,5 million tons of Ukrainian soybeans more than in 2015. In second place is Turkey, which imported soy to 271 million dollars, while it is 29% less than in the previous year. The three leaders entered Iran, where Ukraine exported soy at 147 million dollars, which is 6% less than were sold in 2015.

Recall that the experts consider Ukraine attractive to agricultural business of the country and note that it is easiest to Ukrainian agricultural producers to grow soybeans.

After the release of the January USDA report soybeans in the U.S. market continues to grow and is now trading at 391,32 $/ton.

Prices for Ukrainian soybeans also rose after the U.S. market at $367-370, however, in local currency prices increased by 200-300 UAH/t to 11400-11600 UAH/t with delivery to the port.