Foreign media news on February 25:Ukrainian brokers stated that Brazil will export 51,600 tons of soybeans to Ukraine. This will also be Ukraine’s first import of soybeans in 2020/21.
Elena Naboba, director of the brokerage firm Maxigrain, said that Brazilian exporters will ship 51,600 tons of soybeans at the port of Barcanara in the state of Parana, destined for Ukraine.
Ukraine is a traditional soybean exporter. Due to fierce competition from exporters, crushers cannot buy soybeans from domestic farmers.
Ukraine imported 20,000 tons of Brazilian soybeans last year. This is also the first time to import soybeans in many years.
Consulting company APK-Inform said that Ukraine’s soybean production in 2020 is expected to be 3.4 million tons, a decrease of approximately 25%year-on-year. Ukraine’s soybean exports in 2020/21 are expected to decrease to 2 million tons, lower than the 2.63 million tons in 2019/20; Ukraine’s soybean imports in 2020/21 may increase by 50,000 tons, higher than the 23,000 tons in the previous year.