Ukraine has increased soybean exports to a record high.

In September-June of the 2022/23 marketing year, Ukraine exported almost three million tons of soybeans, which is 140% more than in the same period of the previous season. This is a record export volume for this crop over the entire history of observations, according to data from the State Customs Service.

The main importer of Ukrainian soybeans, with a 47% share, remains the EU, which increased purchases by 210%. Turkey retains second place with 32%. There is also a significant increase in shipments to Egypt, especially in May-June. This country’s share increased to 15% compared to 2% in the 2021/22 season, and shipments increased 17 times to 440,000 tons.

It should be noted that this season Ukrainian farmers increased soybean production due to the expansion of sown areas. The gross crop harvest was around four million tons. An even greater increase is expected next season, with the sown area increased to 1.7 million hectares (+8% over 2022) and the gross harvest to a four-year high of 4.2 million tons (+6%).