Menu

Soybean price continue to rise

0 Comments

Soybean price continue to rise

A ton of soybeans in April this year on average cost 24.2 thousand rubles, which is 13% more than a month earlier, and 6.4% more expensive than in April 2019, according to Rosstat data and soybean price continue to rise. Since the beginning of the year, the price has increased by 15.7%. The most expensive soybeans in April this year were sold in the far Eastern Federal district (29.9 thousand rubles/ton), the cheapest — in the Volga region (20.4 thousand rubles/ton). Vladimir Petrichenko, General Director of the analytical company Proserno, told Agroinvestor that on may 22, a ton of soybeans in the Central part of Russia on average cost 29.4 thousand rubles. the average price for April was 26.9 thousand rubles/ton, for may-28.4 thousand rubles / ton.

Rise of price of soybeans leads to an increase in the cost of meal. Soybean price continue to rise

Soybean price continue to rise
THE AVERAGE PRICE OF A TON OF SOY IN APRIL WAS 26.9 THOUSAND RUBLES

The ruble price of soybeans has recently increased due to the dynamics of the dollar, says Mikhail Maltsev, Executive Director of the fat and Oil Union. Now the ruble is strengthening, so it is possible to reverse the decline in prices, he adds. The rise in the price of soybeans clearly leads to an increase in the cost of meal, but its price in rubles is now at the level of last year. “Therefore, we are within the standard seasonal volatility,” Maltsev said.
The fat and oil Union welcomes the facilitation of the import of soy beans with GMOs, but this will not affect the reduction in the price of soy meal, because the processing margin is already in the region of 4-5%. Soybean price continue to rise. “But it is absolutely impossible to import GMO soybean meal, because it kills our processing industry for the sake of processing in South American countries. This is a loss for the Russian economy, ” Maltsev told Agroinvestor. At the same time, the Union’s request to exclude soy meal from the government decree on simplifying the import of genetically modified products remains unanswered.
“Center for agroanalytics” of the Ministry of agriculture previously reported that from April 9 to may 7, against the background of high rates of export of vegetable oils, despite the ban on export of sunflower and soybeans outside the EEU, and the strengthening of the ruble to the dollar by 2.4%, soybeans rose by 0.5% to 23.5 thousand rubles/t. At the same time, compared with the same date a year earlier, they fell by 8.6%. According to the OilWorld portal on may 22, a ton of soybean meal cost 31.4 thousand rubles (-0.32% for the week) or $442 (+3.7%).

According to preliminary data from the Federal customs service, from the beginning of the season to may 10, the volume of soybean exports exceeded 793 thousand tons, which is 37.6% more than it was last year. The increase in the export of soybean meal for the reporting period was 41.1% and reached 350 thousand tons. since the beginning of the season, soybean Imports amounted to almost 1.38 million tons (-6.8% compared to the previous season), and the import of soybean meal increased to 117.5 thousand tons (+50.8%).
According to estimates of the US Department of agriculture, this year 3 million hectares will be sown with soy in Russia against 2.78 hectares, its harvest may amount to 4.7 million tons (4.36 million tons in 2019). According to the Russian agricultural Ministry on may 27, soybeans were sown on an area of 2.1 million hectares, or 67.2% of the projected area.

Categories:

Leave a Reply

Your email address will not be published. Required fields are marked *