Crushing plants projected to process half of soybean crop in 2019/20
In 2019/20, Vinnytsya Oil and Fat Plant, a structural division of the ViOil Industrial Group, output of soybean oil is one of the highest in the country.
Under the Ukroilprom Association's data, the plant's market share is close to 9%. In the previous marketing period, Ukrainian crushing plants produced 270.4 thou. t of soybean oil. The current year's soybean processing should reach 52% of the country's soybean bulk yield, the Association projects.
"Soybean oil and meal production and export growth is a distinctive feature of the past season. This was facilitated by an increase in soybean production — in 2018/19, the bulk yield stood at 4.5 mln t. We hope to further enhance the production and export of soybean oil and meal, provided that the changes made to the Tax Code regarding VAT refunds are preserved," commented Dmitriy Chalenko, Chairman of the Board of Vinnytsya Oil and Fat Plant.
Previously reported that Vinnytsya Oil and Fat Plant was listed in the TOP 3 largest oil and fat enterprises in Ukraine.
The new edition of the infographic guide Ukrainian Agribusiness 2018/19 is available for download.