Till November 24, according to the Russian Agriculture Ministry, 6 million tons of soybeans had been harvested, up 22.6 percent from the same period last year.

Soybean is one of the most attractive crops in recent years.

In the last 10 years, the area planted with soybeans has increased 1.3 times, from 1.5 million hectares to 3.5 million hectares. People are willing to grow soy because of its export potential, favorable price environment and growing global demand for soy itself and soy products.

Since the beginning of 2022, Russian soybean exports have increased by 44 percent year-on-year.

The largest share of exports were soybeans (1,165,400 tons), soybean cake (495,500 tons) and soybean oil (483,300 tons).

The main buyers of Russian soybeans are China, Belarus and Kazakhstan, while soybean oil is exported mainly to Algeria, Egypt and India and soybean cake is exported mainly to Germany, Turkey and the Netherlands.

This year, the Russian government allocated 4.8 billion rubles to stimulate production of oilseed crops such as rape and soybeans, according to Rambler. This support allows farmers to maintain their returns, mitigate the impact of logistical constraints, and purchase seeds and fertilizer for the next season.