In Ukraine, the domestic processing of soybeans continues to demonstrate the high rates, in particular, in February 2025 the country processed the absolute monthly maximum of 320-330 thsd tonnes of soybeans, up 27% compared to January of the current year, APK-Inform news agency reported.
The analysts noted that in 2024/25 marketing year (MY, September-February) Ukraine processed the record almost 1.45 mln tonnes, up 57% compared to the same period last season and 43% compared to the previous high of 1 mln tonnes in the first half of 2019/20 season.
“Such a significant increase is primarily due to the fact that large mills started processing soybeans due to difficulties with sunflower procurement. However, the active export of soybean meal against the background of the attractive price for importers contributes to the high processing rates for several months in a row,” the experts explained.
APK-Inform forecasts that in total, in the season-2024/25 Ukraine can process up to 2.2-2.3 mln tonnes of soybeans, which is about 36% of the total supply of the crop, compared to 33-35% in the previous two seasons. At the same time, the share of soybean exports, despite the increase in physical terms, may decline to 57% in MY compared to 58-60% in previous seasons.
Prospects for soybean processing in the second half of the current season look a bit pessimistic, analysts say.
The world market expects a record soybean harvest in South America, increased processing in Argentina and increased supply in the soybean meal sector, the balance of which has been overloaded in the last few seasons. Increased tensions in trade relations between the US and the EU, as well as tariffs imposed in the soybean sector by China, may contribute to the continued high demand in the foreign market for Ukrainian raw materials, which encourages traders to increase sales of raw materials that will not be processed, the analytical agency explained.
