Forecast of APK-Inform: Ukraine to decrease the planted areas under soybeans to the minimum level for 7 years




The prospects of soybeans production in 2020 became even more disappointing, due to both weather conditions and market conditions, declared the oilseed market analyst at APK-Inform Agency, Julia Ivanitskaya.

According to APK-Inform optimistic expectations, the planted areas under the oilseed will remain at the last year level, i.e. 1.7 mln ha (APK-Inform estimations). In terms of the pessimistic scenario, the planted areas will reduce by 6% — to 1.6 mln ha, and in such case the figures will become the minimum ones for 7 recent years.

Taking into account possible decreasing of the yield, the forecast of soybeans production totals 3.9-4.2 mln tonnes, down 4-9% compared with the last year level.

We should note that APK-Inform estimations of the harvest in 2019 totaled 4.35 mln tonnes, up 650 thsd tonnes compared with the official estimations from the State Statistics Service of Ukraine. The situation developed, due to the emerging supply and demand balances of the oilseed, which usually indicates the upward trend in market shadowing, stressed J.Ivanitskaya.

You can receive more detailed information about the forecasts of oilseed crops production in Ukraine in 2020 from the article "In 2020, the deficit of moisture cut down the oilseeds production potential in Ukraine" (Agrimarket Weekly #19 dd. May 18, 2020).