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The expert told how much will rise in price for soybeans and rapeseed

The expert told how much will rise in price for soybeans and rapeseed
Photo: pixabay.com

The general director of the Moscow company ProZerno, Vladimir Petrichenko, told how much soybeans and rapeseed will rise in price in Russia. Currently, more soybeans are produced in the Black Earth Region, previously the Far East was the leader. Siberia becomes a key rapeseed producer.

As the "Altai truth", more than two million tons of soybeans are harvested in the Black Earth Region, the harvest in the Far Eastern Federal District is about 1,5 million tons. In Siberia, the harvest of these beans last year decreased from 221 thousand to 214 thousand tons.

Petrichenko noted that due to low yields in Argentina, Brazil and the United States, soybeans have risen in price on the world market since October last year. But prices are already stabilizing, reaching $ 600. Prices are forecast to fall by summer, as the US will plant 10% more soybeans this year. Russian consumers are guided by import prices.

The prices for beans are at the level of 44 thousand rubles per ton. According to the expert's forecasts, an increase of up to 48 thousand rubles per ton is possible. The main global buyer of soybeans, China, may increase soybean imports next year, as its swine population has recovered after ASF.

As for rapeseed, its last year's harvest amounted to 4,3 million tons. Most of all it was collected in Siberia. According to Petrichenko, there will be no price increase until June 2021. Due to the fact that 78% of the level of 2019 was sown in Ukraine in the fall, the Russian price for rapeseed oil for the European Union will grow.

Russia has established an export duty on soybeans in rate of 30%Before that, there was a zero duty on the export of soybeans. The measure was introduced from February 1 to June 30, 2021. The Ministry of Agriculture believes that the decision will prevent an increase in prices for soybean oil and soybean meal, which are used in the food industry.

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