Soybean oil exports in the 2024-2025 marketing year (MY) increased by 52.5% in physical terms to 521.3 thousand tons, and by 98% in monetary terms to $521.7 million compared to the previous year, according to the industry association Ukroliyaprom.
The association noted that exports of soybean meal in 2024/2025 MY increased by more than 95% to 1,336,800 tons, and in monetary terms by 54.4% to $461.1 million.
“This indicates the demand for soybean oil and meal in many countries around the world, in particular the EU, and the unique opportunities for increasing domestic processing of raw materials and growing production and exports of high value-added products,” Ukroliyaprom noted.
The industry association specified that Ukrainian processors exported 85% of soybean oil to EU countries and the remaining 15% to other countries around the world. The leaders in the purchase of Ukrainian soybean oil in the 2024/2025 marketing year were Poland (345,300 tons worth $344.5 million), Germany (22,000 tons worth $22 million), Bulgaria (17,900 tons worth $16.3 million), as well as India (36.7 thousand tons worth $35.3 million), Saudi Arabia (11 thousand tons worth $11 million), and the UAE (7.2 thousand tons worth $8.2 million).
The situation with soybean meal exports in 2024/2025 MY was similar: 81.3% was supplied to EU markets, 18.7% to other countries. Poland (475 thousand tons worth $180.9 million), Hungary (256,200 tons worth $86.6 million), Romania (107,000 tons worth $35.2 million), and Turkey (78,700 tons worth $22.3 million).
