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In Ukraine, the price of buying soybeans is increasing

26.01.2023 12:18

By sending a large amount of soybeans abroad, producers are forced to raise prices to ensure the necessary volumes, but on the contrary, prices have fallen on international markets, as new harvests are expected to be delivered from various countries, in particular from Brazil, according to experts.

In our country, during the last week, the price of soybeans with GMOs increased by 400-550 UAH/t to 16,900-17,400, and soybeans without GMOs now cost 17,100-18,100 UAH/t, the price increased by 600-1,100 UAH during these days. This price includes delivery to the company.

Over the past few weeks, the amount of soybeans shipped to the European Union has decreased by almost 49%, meaning that the demand from processors has really fallen. The cost of demand for GMO soybeans from our ports has also fallen to $420-445/t, non-GMO products now cost between $450-485/t.

The positive dynamics of growth of futures on the exchange in Chicago was maintained due to unfavorable weather conditions in Argentina, but fell sharply after heavy rains. Also according to Conab, Brazil is starting to harvest soybeans. The rains that have passed there recently have really improved the condition and the prospect of a good harvest.

Source: agravery.com