Soybean

Genetically modified soybeans continue to become cheaper in Ukraine


Last week in most regions of Ukraine continued a gradual decline in prices for genetically modified Soybeans continued.

Further development of the trend contributed to the dominance of offers on the market over demand in the inactive conditions procurement processors, who mostly bought sufficient quantities of raw materials for operation in the medium term and Legumes only when needed and in small quantities. Individual producers generally reported a purchase freeze before the offers of the Oilseeds brought a new crop to market. In addition, some processing companies still had difficulties in selling the finished products (particularly the grist), which also affected the price situation.

A week earlier, demand for GM soybeans in Ukraine reached €421,30/Tonne, and from July 11th they will be fixed in the range of 337-414,50 €/ton with the same delivery conditions.

It is also worth noting that against the background of the extremely inactive reception of offers of non-GM soybeans from farmers and low consumer demand, the purchase price in most cases was declarative and mostly still read out in the range of 455-505,50 €/ton.

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