The Ukrainian market of GM soybeans needs adequate state regulation – expert

Source

APK-Inform

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The Ukrainian market of GM soybeans should develop in a legally regulated area. In fact, about 50% of soybeans in the country are GM. This was announced by Volodymyr Pugachev, the executive director in Eastern Europe of the Danube Soy Association at the XXI International Conference “Fat&Oil Industry-2023”.

“GM soybeans are now grown illegally in Ukraine, because, according to current legislation, the varieties must be registered in the state register, but currently there are none… According to our estimates and USDA assessment, about half of Ukrainian soybeans are genetically modified,” the expert noted.

He added that the recently signed law on GM products contains “an interestingly implemented EU directive that gives the Cabinet of Ministers the right to impose restrictions on the registration or cultivation of certain GM crops not for scientific, but for political, economic or social reasons.”

“Let's hope that normal regulation of the market will begin, because it cannot be that we do not have GM soybeans according to the law, but in fact it is about 50%,” V. Pugachev believes.

As Svitlana Kyrychok, an analyst of the oilseed markets of the APK-Inform Agency, clarified, Ukraine is actively increasing soybean planting. In the current year, soybeans account for 20% of the planting area under oilseeds (against 19% and 15% in the previous two years). This was primarily caused by the price situation in the oilseed market.

“We raised our soybean harvest estimate to 4.9 mln tons (+14% by 2022), which could be a record for the industry, driven primarily by the expansion of soybean acreage to a six-year high (+13% y-o-y). In addition, due to high demand for this crop and fairly good profitability, it is expected that the planting area under this crop will increase again next year,” the analyst noted.

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