Russia has seen a significant increase in soybean acreage. The country has significant processing capacities and exports 20% of soybeans.
Every year, new soybean processing plants are built in Russia, and in the season 2024-2025, another capacity of 2 million tons is planned to be commissioned. Thus, of course, this country will need to grow soybeans if it wants to be an exporter of oil and meal.
Thus, analysts expect that the global soybean area and yield may increase primarily due to the active increase of the aggressor country’s capacity.
In conclusion, the global soybean production landscape is undergoing significant shifts, with Russia emerging as a key player in the market. The country's substantial investment in soybean processing capacities and its plans for further expansion indicate its ambition to become a major exporter of soybean oil and meal. As a result, analysts anticipate that the growth of soybean production worldwide will be influenced primarily by Russia's increasing capacity. This underscores the importance of closely monitoring Russia's agricultural developments and their implications for the global soybean market in the coming years.
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