Growth of soybean oil exports of Ukraine

The growth of soybeans production allows to Ukraine to increase the oilseed processing volumes, and in the season-2016/17 the index will reach nearly 1 mln tonnes, declared the Deputy Commercial Director on sales of oilseed crops and by-products at the agri-industrial holding Astarta-Kyiv, Ostap Palchevsky.

According to him, during several recent years Ukraine increased domestic consumption of soybean meal. At the same time, the exports showed almost stable results, and in 2016/17 MY Ukraine will export nearly 0.5 mln tonnes of the soybean by-product. The expert added that Belarus, Turkey and Georgia are the key areas destinations.

At the same time, O.Palchevsky noted the growth of soybean oil exports in the structure of supply and demand balances of the product in Ukraine. In 2016/17 MY, the veg oil shipments will reach nearly 170 thsd tonnes, up 100 thsd tonnes compared with the index of 2012/13 MY. At the same time, the domestic consumption of soybean oil in Ukraine continues decreasing.

As for the exports of Ukrainian soybean oil, the expert noted its active supplies to China. So, in 2015 the country imported 33.3 thsd tonnes of the Ukrainian commodity, and during the first 4 months of 2016 the shipment volumes already reached 27.2 thsd tonnes. Also, in the current year Malaysia appeared among purchasers of Ukrainian soybean oil (4.1 thsd tonnes in 4 months), the expert added.

UAC Information Center by information APK-Inform