Ukraine continues to strengthen its position in the global soybean market despite external risks and fluctuations.
According to the analytical department of the agricultural cooperative PUSK, established within the framework of the All-Ukrainian Agricultural Council (VAR), Ukraine has already exported nearly 93,000 tons of soybeans as of early April. In addition, active processing in the domestic market and high shipping levels have effectively unloaded this year’s record harvest.
“As of April 1, approximately 2 million tons of soybeans remained in Ukraine, slightly more than last year when there were about 1.7–1.8 million tons. However, thanks to high processing and exports, we are confidently reducing the stockpile. By May-June, we can reach figures comparable to last season. This means that the market has been able to absorb the record volume of soybeans. This is a positive signal for farmers and exporters,” PUSK representatives noted.
On the global soybean market, there is a slight decrease in importer activity, partly due to expectations about possible tariffs between the US and the EU. However, prices remain stable: in deep-water ports, $385–390 per ton. Processors in Ukraine have become more active, and the prices for soybeans are holding steady at 17,500–17,800 UAH/ton. The demand for soybean oil from Europe also supports the market.
“European buyers have been actively contracting Ukrainian soybean oil in recent weeks. The demand from processors remains high, which is keeping purchase prices for soybeans at an attractive level. This helps maintain profitability in production. Ukrainian soybeans continue to be competitive, even amid declining quotations on the exchanges,” analysts report.
Global trends may work in Ukraine’s favor. In the US, a decrease in corn acreage by 5–6% is expected, while soybean acreage could grow by a similar amount. South America—Brazil and Argentina—plans to maintain or even increase production volumes. However, American soybeans are currently losing competitiveness due to the trade tensions between the US and the EU.
“If the tariff situation between the US and the EU escalates, a redistribution of European demand in favor of Ukrainian soybeans is quite likely. Europe is already increasing its purchases from Ukraine, and this trend may only intensify in the coming months. The global market looks stable overall, without any preconditions for sharp declines. Therefore, we can expect prices to remain stable and a potential expansion of Ukrainian soybean presence in the European market,” PUSK forecasts.
