Soybean processing in Ukraine to reach a record level in 2018/19

In MY2018/19, Ukraine may set a new record for the processing of soybeans. This was informed by Julia Ivanitskaya, the oil markets analyst at APK-Inform, Agrotimes informs.

By the preliminary estimates, processing volume should reach 1.5 million tons. According to the analyst, this season at least 35% of the total soybean yield will be processed.

The increase in domestic soybean processing will result in lower by 11% export of soybeans from Ukraine, which is consequently estimated at 2.43 million tons. Julia Ivanitskaya noted that the analysis of the dynamics of soybean shipments by months since May 2018 showed the minimum export volumes for the last four seasons.

As of December 4, 2018, soybean yield amounted to 4.4. million tons on 1.7 million hectares (99% of the areas). The crop productivity stands at 2.58 tons/hectare.