Soybean oil production increased 27.5% in May

Soybeans processing rate in Ukraine, despite the decline in the last two months, remains at a high level. In May 2018, the production of soybean oil by large and medium-sized enterprises of Ukraine amounted to 18.1 thou. tons, which is 8.6% less compared to April, but 27.5% more as compared to May 2017, UkrAgroConsult reports.

The production of soybean oil in May of MY2017/18 set a record monthly indicator.

Since the beginning of MY2017/18 (September-May), the production of soybean oil amounts to 156.7 thou. tons, having increased 26.8% as compared to the previous year.

Analysts note that the total soybean oil production in MY2017/18 may reach a new historical maximum for Ukraine.

Reference: in May 2018, Oil World experts recorded a decline in global exports of soybean oil to 670 thou. tons, which is 13% less than the previous month (767 thou. tons) and 15% than in May last year (787 thou. tons).