Ukraine allowed to export soybeans to China
2013-09-11 10:23:52
Ukraine was granted the right to export wheat, soybeans and barley to China. In early September, China has completed the necessary certification procedures.
China's appetite for food is growing in syncronization with country's population. In such circumstances, a question of finding new suppliers of oil crops to China is of particular relevance. In this regard, it is not surprising that China gradually discovers soybeans from the Black Sea region. And if Russia was supplying China with soybeans for quite some time, Ukraine was still unknown to Chinese importers. This situation may change in the current season, as in the early days of 2013/14 MY Ukrainian soybean imports to China have been given the green light.
That means Ukraine continues to introduce its soybeans further east - in the spring of this year the first trial shipments of beans were made to Japan. Ukragroconsult experts point out that such a trend could change the geography of shipments in the next few seasons. Suffice it to cite the example of Ukrainian sunflower oil. After shipping the first test batches of oil in 2009-2010, China got a taste and now the exports volume grows annually times over.
At the moment, about 70% of Ukrainian soybean crop is exported, and summarizing the results of the 2012/13 season, the proportion of the EU-28 in the geography of exports amounted to 61%. It should be noted that there was a decrease of 6% compared to the 2011/12 season due to increase in exports of the product to Egypt.
Soy is becoming a more and more profitable crop for Ukrainian farmers, as the demand for it is great from both the domestic processors and foreign markets. Therefore, it is possible that the volume of production in the following seasons will grow, and with it will grow the export. Moreover, if the Chinese demand for soybeans from Ukraine picks up, it will play the role of one of the main drivers for increasing sowing acreage in Ukraine.
The urgent problems of the oilseeds market of the Black Sea region will be discussed in more detail at the International Conference «BLACK SEA OIL TRADE 2013: New Markets. New Strategies», which is held by UkrAgroConsult in Kiev on September 18, 2013, «Hyatt Regency» Hotel.