The domestic soybean market in Ukraine is gradually becoming more active, while the export direction remains restrained due to high competition from Brazil and the USA, according to the analytical department of the First Ukrainian Agricultural Cooperative (FUAC), established under the Ukrainian Agri Council (UAC).

“Ukrainian soybean exports currently amount to around 117,000 tons. The market is moving rather cautiously. At the same time, the domestic soybean market is gradually becoming more attractive. Processing companies are increasing coverage for February–March, and prices are being adjusted based on the currency exchange rate. As of January 20, indicative purchase prices offered by processors are UAH 18,600–19,000/t for GMO soybeans and from UAH 19,500/t for non-GMO soybeans. Port quotations remain largely unchanged,” analysts report.

A key factor influencing the market is the situation on global markets.

“After a sharp increase in the autumn, exchange-traded prices have entered a correction phase, which may form the basis for a new price surge. At the same time, in key markets for Ukraine — notably Turkey and Egypt — Brazilian soybeans appear more competitive for the March–April period, which keeps demand for Ukrainian products restrained. Therefore, potential growth in exchange prices could become a key factor supporting the market,” FUAC analysts noted.

The current market situation suggests the need for a measured approach to soybean sales.

“There is still potential for price growth in soybeans. Therefore, in the coming months, this crop should be considered as a tool for a more flexible pricing strategy,” the analysts concluded.