April 28, 2011
 

Ukrainian soy prices continue to rise

From the start to the end of March 2011, the Ukrainian soy market has maintained the trend of increasing prices, according to the monitoring of the over-the-counter market of oilseeds and by-products, realised by APK-Inform Agency.

According to market operators, purchasing prices for soy are often voiced within the range of UAH3900-4050/tonne (US$334-346). The high export demand in soy during the current season between September and March has led to traders exporting 745,000 tonnes of soy against 129,000 tonnes during the same period last season. This factor was the main reason for the growth. According to operative data, during April 1-22, Ukraine exported 90,000 tonnes of soy. Besides that, the growth of prices on the market of sunflower provides support to soy prices.

According to estimations of APK-Inform Agency, as of April 1, soy carry-over stocks in Ukraine totalled nearly 550,000 tonnes as compared to 510,000 tonnes during the same period in 2009/10, including 300,000 tonnes locked directly at agricultural producers' storehouses.

Timchenko V.N., President of the Ukrainian association of soybeans manufacturers and processors, honorary member of the National Academy of Agrarian Sciences of Ukraine, will provide more information in his speech on the prospects of development of the soy industry in Ukraine and its role in improving the livestock production, solution to the main problems of the development of soy production in Ukraine, taking into account market requirements, during the work of the international conference "Market of soybeans and meals of the CIS and European countries".