Oilseeds processing capacities in Ukraine increased 8 times

Sunflower
Photo by: Latifundist.com

According to the Association Ukroliyaprom, as of the end of December 2017, the processing capacity of oilseeds is 21.5 million tons, which allows processing the harvested crops (soybean, rapeseed, sunflower) in full, reports Elevatorist.com with the reference to UkrAgroConsult.

It is noted that since 1998, oilseed processing capacities have increased 8 times. In 1998, they were estimated at 2.5 million tons.

"The capacity for soybean processing reached 4 million tons/year, rapeseed — about 2 million tons/year. However, due to the active export of soybeans and rapeseed, they are loaded only by 20%," analysts inform.

60 new enterprises were built during the last 26 years, and all existing enterprises were reconstructed and modernized. The total amount invested in the development of the industry exceeds USD 3 billion.

The port infrastructure is also developing: 16 terminals are built in six ports (90% of vegetable oil is exported by sea).

Earlier it was reported that Ukraine from the beginning of MY 2017/18 exported 1.9 million tons of rapeseed.