The rise in prices for soybeans on the Ukrainian market is due to the increase in the cost of exporting meal and oil.

In the Ukrainian market, soybeans have become more expensive, reaching 17.2-17.5 thousand UAH per ton, increasing by 100-200 UAH per week. The price increase is associated with the expensive export of soybean meal and oil, forcing oil producers to spend more on reserves.

21 March 2024

From the beginning of last week, soybean prices on the Ukrainian market increased after a brief decrease.

Purchase prices reached 17.2 - 17.5 thousand hryvnias or 40.7 - 41.41 thousand rubles per ton on CPT terms. This is 100-200 hryvnias or 235-475 rubles more than last week. Prices for consumer demand for genetically modified soybeans range from 16,300 to 18,200 hryvnias or 38,570 to 43,065 rubles.

Analysts explained the price increase by the rise in the cost of soybean meal and sunflower oil exports. This led to an acceleration of deliveries of these goods in the current month. As a result, vegetable oil producers had to increase expenses to urgently replenish stocks. However, they were not able to significantly raise costs.

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Source: Forkagro.com

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The rise in prices for soybeans on the Ukrainian market is due to the increase in the cost of exporting meal and oil.

In the Ukrainian market, soybeans have become more expensive, reaching 17.2-17.5 thousand UAH per ton, increasing by 100-200 UAH per week. The price increase is associated with the expensive export of soybean meal and oil, forcing oil producers to spend more on reserves.

"The pandemic is pushing the world towards sustainable fuels: interest in bioethanol and renewable energy is growing."