Soybean oil production in January hit the new record

In January 2019, the production of soybean oil by large and medium-sized enterprises in Ukraine hit a record monthly volume for the country — 24.9 thou. tons, 9.2% higher month-to-month and 30.4% vs. January last year, UkrAgroConsult informs.

In the five months of MY2018/19, the production of soybean oil, as expected, exceeded the last year's maximum (80.6 thou. tons) and rose to 101.9 thou. tons, analysts say.

According to market expectations, the intensification of processing of this type of raw material is planned in the new calendar year.

This season, the area for the new harvest in Vinnytsya region will be about 1.63 million hectares. Corn areas are planned to be increased by 5%, whereas soybeans — by 16%.

The infographic guide Agribusiness of Ukraine 2017/18 is available by the link.