Ukraine should boost vegetable oil and meal production in 2018/19
In MY2018/19, Ukraine has the potential to increase the production of all types of vegetable oil and meal — sunflower, soybean and rapeseed. First of all, this should be possible due to the expected growth of sunflower processing by 10% compared to the prior year, soybeans — by 20% and rapeseed — 2.5 times.
APK-Inform reports that the volume of sunflower oil production in the current season is projected at 6.4 million tons (up 12%), sunflower meal/cake — 5.7 million tons (up 9%). These will be record volumes for Ukraine.
Together with an increase in production volumes, it is expected that the export supply of these products will grow, which, against the background of a decline in Russia's potential to export sunflower products, creates a number of advantages and good prospects for shipments from Ukraine.
Due to changes in taxation regarding the export of soybeans, domestic crop processing will become more attractive and may reach a historic maximum of 1.5 million tons. Accordingly, the production of soybean oil is projected at 255 thou. tons, soybean meal/oil cake — 1.1 million tons.
Production of rapeseed by-products in NY2018/19 may also come close to record highs. In particular, the potential for the production of rapeseed oil is estimated at 150 thou. tons, rapeseed meal/cake — 190 thou. tons.
The forecast for rapeseed processing in Ukraine in MY2018/19 is increased by 60% up to 350 thou. tons as compared with the previous report.