Ukraine ranked 5th on the global soybean export market in 2024

Ukrainian soybean exports amounted to $1.34 billion, accounting for 1.8% of global exports and 5.4% of Ukraine’s total agricultural exports.

The world’s leading soybean exporters (together with Ukraine) in 2024 were:

• Brazil – $42.94 billion
• USA – $24.54 billion
• Canada – $2.47 billion
• Argentina – $2.01 billion
• Uruguay – $1.21 billion

Main destinations for Ukrainian soybean exports in 2024:

• EU – 43%
• Egypt – 23%
• Türkiye – 18%
• Pakistan – 9%
• Lebanon – 2%

Key insights:

• Record-high performance over the past 10 years: after dropping to $0.61 billion in 2021, export revenues have steadily grown despite the war. In 2024, the figure reached $1.34 billion, surpassing even 2019, when soybean exports were particularly successful.
• Diversified logistics model: although the share of the Black Sea route increased from 27% in 2023 to 49% in 2024, the “Solidarity Lanes” still account for a significant 34% of exports, and 16% of products are shipped via the Danube. This is partly due to the geographic proximity of EU consumer countries.
• Balancing two sales directions: despite the EU’s dominance (43%), the eastern vector plays a critically important role, together accounting for 53% of the market. This reduces risks for Ukrainian producers: if the European market becomes less attractive, strong demand from MENA and Asian countries allows significant volumes to be redirected through seaports, maintaining production profitability.

Conclusion: maintaining 5th place in the global ranking and achieving the highest revenue in a decade demonstrate the profitability of the crop. The combination of flexible logistics (road, rail, sea) and an effective distribution of sales between European and Asian markets enables Ukrainian exporters to mitigate price fluctuations and remain stable despite restricted access to maritime routes.

Learn more in the full Export Portfolio 2025:  https://cutt.ly/rr1U8YTa