CURRENT STATE AND DEVELOPMENT PROSPECTS OF THE SOY MARKET IN UKRAINE

Abstract

The growth of the population in the world provides increased demand for soy and its processing products. Because in low-income countries, soy and its processing products are used as a cheap vegetable protein for human nutrition, and in developed countries - as a valuable protein raw material in animal feed. The article calculates the cost of 1 kg of raw protein in protein feeds of plant and animal origin. The cost of vegetable feed per 1 kg of protein is 1.5-3.5 times lower than the cost of animal feed. The dynamics of global soybean production are shown, which indicates that in 2023/24 it was about 395 million tons. The main soybeanproducing countries are Brazil, the USA, and Argentina, whose share in the total world production is more than 80%. The dynamics of soybean production and processing in Ukraine is presented. The largest soybean processors in Ukraine are such companies as Bunge, AdamPolSoya, Cargill, Kreativ OEP, Kyiv-Atlantic, Royal Taste, Vinnytsia OEP and others. The soybean market in Ukraine demonstrates significant success both in cultivation and in export and processing. Despite the difficult conditions caused by military actions and economic challenges, Ukrainian farmers were able to reach historical highs in the production and export of soybeans, ensuring high product quality and competitive prices on the world market. Soy is an export-oriented crop, about ? of which is delivered abroad in the form of raw materials or processed products. The largest importers of Ukrainian soybeans are the European Union, Egypt and Turkey. In connection with the innovations in the supply of soybeans to the EU, soybean producers must not only grow (use of high-quality, certified seed material, mineral fertilizers, general production and administrative costs), but also have a certificate of traceability and confirmation of the absence of deforestation throughout the production chain. Since the violation of EUDR provisions can lead to serious consequences and sanctions, namely fines of up to 4% of the total annual turnover of the enterprise for the previous financial year, confiscation of products, temporary exclusion from procurement procedures and access to public funding, including tender procedures and subsidies

Keywords

• soy
• production
• export
• processing
• certificate of traceability
• eudr