Eurasian Economic Union (EEU) decided on June 2 to remove the soybean from the export ban list and allow soybean export from June 13.

Earlier, EEU decided to ban export of some agricultural products including soybeans from April 12 to June 30, 2020. The decision was rejected by the industry. Leikev, Head of Agricultural Market Condition Research Institute of Russia, said the ban caused vast losses to enterprises since 100,000t soybeans in far east area of Russia could not be exported. Basov, the General Manager of Russia Agriculture Corporation, said soybean export is crucial for the Far East area of Russia because that area has no soybean processing ability, finally leading to losses.

Statistics of Russia show in 2019 Russia produced 4.3million ton soybeans. In 2020, the soybean broadcasting area in Russia reaches 3.161million ha., 3.9% higher than that in the previous year.