In 2023/24 MY Ukraine to increase the production of all key oilseeds – Ukroliyaprom




In 2023/24 MY Ukraine is expected to see a higher production of the main types of oilseeds, the total production of which will reach 19.5 mln tonnes, up 7.7% y-o-y (18.1 mln tonnes in 2022/23 MY). Such a forecast was announced by the Ukroliyaprom Association on July 7.

According to experts, the production of all key oilseeds is expected to increase in the current season. In particular, the largest increase is expected for soybeans – by 12.2% y-o-y, from 3.444 mln tonnes in 2022/23 MY to 4.107 mln tonnes. This growth will be due to a significant increase in the planting area – by 20.5% to 1.84 mln ha, while the yield will increase by only 0.4% to 2.23 t/ha.

Sunflower seeds production in the current season is expected at a level of 11.813 mln tonnes against 11.329 mln tonnes in 2022/23 MY (+6.5%). The yield of the oilseeds will decrease slightly – by 3.3%, 2.09 t/ha, while the planting area will increase to 5.64 mln ha (+7.7%).

As for rapeseed, Ukroliyaprom forecasts its harvest at 3.318 mln tonnes (+9.1%, or 246 thsd tonnes), which will be harvested from almost 1.35 mln ha (+16.3%) with a yield of 2.65 t/ ha (-9.3%).

"At the same time, it should be taken into account that the carry-over stocks of oilseeds in Ukraine at the beginning of the 2023/24 MY are significantly smaller y-o-y. Accordingly, the supply in 2023/24 MY will be smaller, which requires urgent measures at the government level to create conditions for maximum internal processing and increase the export of products with high added value," the association emphasized.