Ukrainian soybean exports up 27% in July 2024 - analysts

MOSCOW. July 26 (Interfax) - Ukraine has been increasing its soybean exports, which stood at nearly 176,000 tonnes between July 1 and July 23, 2024, which may become the largest amount over the past few months, Ukrainian media said, citing the APK-Inform information and analytical agency.

"Almost 176,000 tonnes of soybeans were shipped on July 1-23, which is 27% more than over the same period in June and nearly thrice the amount seen in the same period last year," analysts said. A key factor in the growth of soybean exports to foreign markets was a decline in soybean prices at Ukrainian ports in June-July by an average of $35 per tonne, a circumstance which has encouraged importers' interest in the crop, they said.

The growth of Ukrainian soybean exports in July is due to larger shipments to Egypt, which increased by 17% month-on-month and by 79% year-on-year, to Romania (growth of 80% month-on-month and by fourfold year-on-year), and to Turkey (increase by 3.8-fold month-on-month and by 3.4-fold year-on-year), APK-Inform said.