Ukraine fully realized its soybean market potential in MY 2018/19

The 2018/19 season was a turning point for Ukraine’s soybean market in view of new VAT refund regulations that came into force in September 2018. The final figures for MY 2018/19 show how all market participants have adapted to the new situation.

2018/19 season’s results:

•  a record soybean crop  as yield hit an all-time high  with planted acreage down 12.2%;
•  soybean exports have been falling for a second season in a row despite increasing production;
•  in MY 2018/19, soybean exports dropped 8.4% ;
•  the crush share in the total crop exceeded 51%, though its average in the previous four seasons approximated 25%. This boosted exportable supplies of soybean products and intensified competition between traders and crushers in the feedstock market.