Strong demand for Ukrainian soybeans on foreign and domestic markets drives price growth – analysts
High demand for Ukrainian soybeans on international markets, improved processing of export duty refunds for farmers, and strong domestic demand from processing companies all contributed to further price growth, according to the information and analytical agency APK-Inform.
"Bid prices on CPT-port terms rose to $415–425 per tonne and in some cases reached $430 per tonne. Exports to the EU increased significantly in November – around 126,000 tonnes were shipped in the first 20 days of the month (compared with 22,000 tonnes over the same period in October)," analysts noted.
Intensifying competition for soybeans on the domestic market combined with limited supply also supported price increases. Over the week, processors' bid prices rose by UAH 200–300 per tonne, and in some regions by up to UAH 500 per tonne, APK-Inform reported.
