In Ukraine, the prices for soybeans have been actively declining over the past month. As of the end of January, processors were buying soybeans at the price of more than 18,000 UAH/t, while at the end of January, the price tags do not exceed 16,500 UAH/t. The reduction in the price of Ukrainian soybeans is due to the fall in world prices for the oilseed.

This was discussed on February 27 during the analytical briefing of the First Ukrainian Agricultural Cooperative (FUAC), created within the UAC.

"In February, Ukraine exported 290,000 tons of the contracted volume of 300,000 tons. It is difficult for traders to sell Ukrainian soybeans for export due to its high price. Our key markets, which traditionally account for 50-60% of exports, are Turkey and Egypt. But now the prices in these markets for Ukrainian soybeans are on par with the Brazilian counterpart. Typically, Ukrainian soybeans are USD10-15 per ton cheaper than Brazilian soybeans. Therefore, prices for Ukrainian soybeans will continue to move down. The world prices for the oilseed are falling, which is facilitated by a record harvest in Brazil, forecasts of a high harvest in Argentina, and large soybean stocks in the United States," the FUAC mentioned.

If now on the basis of DAP Poland-Romania the conditional prices for soybeans are USD420 per ton, by the end of March they may decrease to USD390 per ton. Processors have reduced the purchase prices to the range of 16,500-16,800 UAH/t, by the end of March the price drop may reach 16,000 UAH/t.

"Another factor that supports the decline in prices for Ukrainian oilseeds is the fall in prices for soybean meal in the EU. In addition, Poland used to be the main importer, but now this country is not the best trading partner," the FUAC added.