Ukraine to increase export of soybean meal

09-09-2015 | |
Ukraine to increase export of soybean meal

Ukraine is likely to increase the export volume of oilseed meal this year due to the development of the oil and fat industry in the country, according to a forecast by Ukrainian company Allseeds.

According to official information the export of Ukrainian soybean meal in 2014/2015 for the first time exceeded 170,000 tonnes. This year the overall output of the country’s oil and fat industry will amount to 900,000 tonnes. As a result, the overall volume of soybean meal exports may grow to 190,000 tonnes.

“The main sales markets are the European Union, Asia and the Middle East. However, exports of processed products coming from the Ukainian oil and fat industry are not limited to those regions”, said a representative of Allseeds.

According to the forecast of Allseeds the actual volume of export supplies this year may also be bigger as a result of a declining demand at the domestic market. “This year, Ukraine require less soybean meal due to the drop in the number of cattle in the country”, commented representatives of the company.

Vladislav Vorotnikov Eastern European correspondent