Ukraine is the largest European exporter of soybeans. According to Statista, its soybean exports account for 0.9 billion tons of global supplies. This is small compared to those of Brazil (49.7 billion tons) and the United States (36.8 billion tons). You can also learn more about the following:Main source of soy in Europe
Vitaliy Glovnya is Ukraine's deputy minister of agrarian policy and food. He says that despite the challenges of war and the decline of other crops, soybean yields in Ukraine have increased significantly in recent years.
What can Ukrainian soybeans do for Europe?
Donau Soja claims that Ukraine is the largest European exporter of soybeans. The organization claims that GMO-free and deforestation-free Ukrainian soybeans will meet the requirements of the EUDR regulation. According to the organization, the EUDR is likely to shift demand from Brazilian soybeans to Ukrainian soybeans, as they have a lower risk of deforestation.
Donau Soja claims that the EU's soybean self-sufficiency is currently 8.%. This represents a serious threat to EU food security.
Golovnya says Ukraine has worked very hard to meet the EUDR requirements. Golovnya predicts that they will meet the December 30 deadline.
What impact have recent weather conditions had on Ukrainian soybeans?
Donau Soja predicts that hot and dry weather in Europe has led to lower than expected soybean yields. This is despite an increase in soybean plantings in most major regions. According to its revised forecast for Ukraine, the area under soybean cultivation in that country will increase by 10 % by 2024. This would be equivalent to two million hectares. Donau Soja expects production to be 4.6 million tonnes, 3.2 % less than last season.
Soybean prices are falling
Soybean Price The decline continuedAnd this despite events such as the floods in Rio Grande do Sul, Brazil, a few months ago. According to Expana, this is largely due to an increase in production. Low demandIt is also important to take this into account.
According to Donau, agrometeorological conditions in Ukraine improved throughout August. This means that the conditions for growing soybeans have improved. Rains in western and northern Ukraine increased the moisture in the topsoil and helped stimulate the growth of soybean crops. On the other hand, the lack of precipitation in southern, central and eastern Ukraine led to the destruction of this crop. The plant in the Poltava region was completely dried out. The situation in some regions was aggravated by pests and weeds.
What is the impact of war on agriculture?
Russia invaded Ukraine on February 24, 2022. It is still a war-torn country, making farming difficult. About 19,130 million of Ukraine's land has since been taken over by Russia. The soybean harvest has increased 2.2 times since 2020/2021, although other crops have declined.
What is EUDR for soybeans?
You must comply with the EUDR to be eligible. Supply chain management is important. The safer the supply chain, the better. Additionally, certification systems that promote sustainable soy are helpful. Manufacturers need to do their due diligence, as neither is enough.
Golovnya said that clearing farmland is the top priority. More than 400,000 acres of land have been cleared to date. When farmers sign a contract for clearing, they receive full payment.
Ukraine has started exporting agricultural products at an earlier pace after using the Black Sea corridor. Golovnya claimed that Ukraine's agricultural exports from January to May were higher than they were before the war.
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