Agrinews

May 14, 10:50 Source: APK-Inform Views: 519

In 2014/15 MY Ukraine to break the record of soybean production - APK-Inform

Every year Ukrainian agricultural producers continue increasing their interest in cultivation of soybeans, due to high demand for the oilseed from both domestic consumers and export-oriented companies, declared Irina Ozip, Head of the informational division of APK-Inform Agency, at the conference VegOils Trade Outlook- 2014 in Istanbul on May 13.

During 5 recent seasons in Ukraine soybean production volumes continue breaking new records. According to data of APK-Inform, in 2009 Ukraine produced the record harvest of soybeans - 1 mln tonnes, but in the following year the new record broke the index and reached 1.6 mln tonnes. The trend continues developing for five recent seasons, and 2013 was not an exception. Last year, Ukraine produced another record harvest, which is estimated by our Agency at 2.7 mln tonnes, said the expert.

The reporting trend will continue in 2014/15 MY, explained I.Ozip. So, the general harvest of soybeans in Ukraine will increase to 3.2 mln tonnes, and the total supply will increase to 3.3 mln tonnes, at the expense of expanding the planted areas of the oilseed by 20% - to 1.65 mln ha. Taking into account growing of the total supply of soybeans, its domestic processing volumes may increase by 16% - to 1.1 mln tonnes, while the exports - up 30%, to 1.8 mln tonnes, which will become another record for Ukraine, concluded the expert.

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