Ukraine: January 2018. Export of soybean oil

During the first month of this year 21.000 t of soybean oil was supplied to foreign countries from Ukraine. The cost of supplies amounted to 15.880.000 USD.

Such information was provided by the State Fiscal Service.

The main consumers of this product during this month were India, the United Arab Emirates and Poland. 7.480 t were delivered to India, and the cost of delivery was 5.600.000 USD. The United Arab Emirates imported 5.540 t and the cost of import was 4.190.000 USD. 4.980 t were exported to Poland, and the cost of export was 3.770.000 USD.

It should be recalled that 61.700 t of soybean oil was produced in the current MY, which is 25% more than it was produced last year.

In January 2018, Ukraine increased the export of soybean oil to the world market. The main buyers of Ukrainian soybean oil during this period were India, Germany and Holland. The total volume of exports of soybean oil from Ukraine in January 2018 amounted to more than 25 thousand tons.

Ukrainian soybean oil is known for its quality and is in demand on the world market. The export of soybean oil is one of the key areas for the export of Ukrainian agricultural products. Thanks to the increase in the export of soybean oil, Ukraine has the opportunity to strengthen its position in the world market and increase its export potential.

However, an increase in the export of soybean oil may lead to a shortage of this product in the domestic market of Ukraine, which may affect prices and demand for soybean oil within the country. Therefore, the government of Ukraine should take these factors into account when forming an export strategy for soybean oil.

In addition, it should be noted that soybean oil is an important source of protein and other nutrients, and the demand for this product will increase in the future. Therefore, Ukrainian soybean oil producers have the potential to increase production and exports in the future.