Source: Oleoscope (Russia)
The soybean market in Europe will be impacted by Brazilian products; however, it remains distinct and has its own constraints.
This insight was shared by Oleksandr Solovey, the commercial director of Spike Brokers, in an article published in The Ukrainian Farmer magazine.
He noted that importers favoring Ukrainian goods will continue to source them.
The expert highlighted that this season, Ukraine has boosted its footprint in the European soybean market by 3%.
“Last year, we sent merely 500,000 tons to Europe, while this year, nearly 900,000 tons have been shipped to EU nations. Considering that our overall export capacity for soybeans stands at around 3.7 million tons, over a quarter of our exports are directed to Commonwealth countries. Additionally, Turkey accounts for approximately 30 percent of Ukrainian soybean exports, while Egypt and other African nations hold the third position,” Solovey elaborated.