According to the current data, the export of soybean oil from Ukraine in the first half of the season-2024/25 increased to the record level for the industry, amounting to 245.4 thsd tonnes (+52% compared to September-February 2023/24 MY). In particular, in February this year, the exports of the product reached the monthly high, amounting to 59.1 thsd tonnes (+38% compared to January).
Poland remained the main importer of Ukrainian soybean oil, which increased purchases in the current season by almost a quarter, but its share in the total exports of the product from Ukraine decreased to 61%, down from 73% in the previous marketing year.
It is also worth noting that in the last few months, the exports of soybean oil to India have resumed after a long break. In the first half of the season-2024/25, the country shipped a little more than 25 thsd tonnes of the oil against 216 thsd tonnes in the same period of the previous season. In particular, in February, the volume of oil shipped to India amounted to 11 thsd tonnes (+77% y-o-y), which was the highest since March 2020.