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June 24, 11:20 Source: APK-Inform Views: 1083

Ukraine: soybean complex continues steadily developing – USDA

In 2014/15 MY the world soybean market will again face increasing of production volumes – in the new season the oilseed harvest may reach 300 mln tonnes, as opposed to 283.8 mln tonnes in the current season, declared Randall J. Hager, Agricultural Attache of the US Embassy in Ukraine (USDA), on June 19 in Odessa during his speech at the international conference "Ukrainian soybean market - 2014".

In the new season the USDA is waiting for the growth of all key indicators in the soybean segment: production, consumption, exports and ending stocks, said the expert.

R.Hager paid special attention to Ukraine and its perspectives on the global market of soybeans.

The sector of soybeans in Ukraine continues steadily developing. During 5 recent years the Ukrainian oilseed production volumes and its supply on the world market increased in over 2 times. The USDA forecasts growing of the oilseed production in the country in 2014/15 MY by 0.5 mln tonnes compared with the previous season - to 3.25 mln tonnes. The volume of exports may reach 1.9 mln tonnes (1.7 mln tonnes), said the expert.

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