Russia could squeeze Ukraine out of China's soybean market, this was the forecast made by Chinese experts in the publication Oilcn.

The world now recognizes Ukraine as one of the leaders in sunflower production and export. However, it has no potential to increase the output of soybeans and derived products. But Russia can progress in this direction, wrote the experts Oilcn.

Ukraine annually cultivates more than 3.7 million tons of products. About 1.2 million tons is processed domestically, and about 2.7 million tons is sent abroad. At the same time, according to the law, the production of genetically modified soybeans is not allowed here. This affects the quality and curbs production at the same time.

After Ukraine stopped returning value added tax several years ago for selling soybean and rape abroad, farmers lost interest in this crop. The reasons are that it is no longer profitable to export and the country does not have enough processing capacity.

Despite this, this year, the soybean export from Ukraine to China has increased dramatically. Thus, at the end of November, Ukraine delivered a record 627 thousand tons.

However, the publication's experts believe that Russia may become one of the leading suppliers of oilseeds in the future.

Made in Russia // Made in Russia

Author: Kseniya Gustova