Source: Oleoscope (Russia)
In the first half of the marketing year 2024/25, Ukraine achieved a record export of soybeans totaling 2.35 million tons, reflecting a 6% increase compared to the 2023/24 marketing year. This figure surpassed the previous highest record of 2.3 million tons, which was noted during the September-February period of the 2019/20 marketing year. February’s exports reached 382,000 tons, marking a significant 71% rise from January and setting a new benchmark for the month, as reported by APK Inform.
The European Union remains the primary destination for these exports, accounting for over 1 million tons, or 44% of the total (up from 31% in the previous season), with a notable 47% growth in this area. The Netherlands led the EU in purchases, importing 304,000 tons, followed by Germany with 144,000 tons and Romania with 122,000 tons.
Despite an 11% decline in purchase volumes, Turkey retained its position as the top importer for the current season, with exports totaling 530,000 tons. Conversely, Egypt saw the largest reduction in imports, nearly halving its purchases as Egyptian companies shifted to sourcing soybeans from the United States.
Analysts estimate that 66% of Ukraine’s soybean export potential for the 2024/25 marketing year has been fulfilled, suggesting that further shipments overseas may face limitations due to the arrival of fresh beans from South America.
Additionally, it was reported that Ukrainian exports of soybean oil also reached record levels in the first half of the 2024/25 season, totaling 245.4 thousand tons—an increase of 52% compared to the September-February figure of 2023/24.
