Russia: Preliminary estimates for the export potential of soybeans have increased significantly

According to APK-Inform specialists, preliminary estimates of the export potential of soybeans in the current marketing year may reach 750.000 tons, which is 30% higher than previously estimated.

Changes to estimated volumes are based on statistical information on export transactions.

During the first 3 moths of this year, more than 200.000 tons of soybeans were exported from Russia, which is almost 30% more than was sent to foreign markets last year. In addition, this indicator is the maximum for the specified period.

The main reason for the increase in the volume of foreign supply of soybeans is the increased demand from China for this product that imported 96% of the total volume of exported product during the first three month of this marketing year.

But at the same time, in the future, a decrease in demand for soybeans from China is expected, due to the resumption of trade relations with the United States, which will lead to a decrease in export volumes in general and most likely in the current marketing year the historical maximum of 830thousand tons will not be exceeded.