APK-Inform cuts its forecast of soybean production in Ukraine in 2021 by 4% to 3.7 mln tonnes. It is still 19% higher compared to production volume in 2020.
The downward correction of production forecast is based on the reduction of estimation of planted area under the oilseed that was cut by 5% to 1.46 mln ha (-3% year-on-year). The experts cut the soybean area estimation, as the State Statistic Service of Ukraine published in its report the spring planted area under soybean at the multiyear minimum - 1.28 mln ha (-5% from 2020).
At the same time, the higher soybean yield at 2.57 t/ha (+1% to the previous estimation and +23% to 2020) will partially offset the smaller area.
