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Soybeans production in Ukraine assumed higher in 2021/22 for improved yields
22 October 2021, 06:00
Soybeans deficit, resulting in weak trade activity, low export shipments, rising soybean prices in the domestic market, despite the advancement of harvesting campaign, marked the start of the 2021/22(September 2021-August 2022) season, observes UkrAgroConsult oilseeds market analyst Svetlana Kupreeva.
"In 2021/22, soybean production area declined further. It was a challenge for soybean to compete with sunflower, while the area of the latter set a new record. Nevertheless, the crop may be 10-15% higher due to more optimistic yield forecasts," she asserts.
Analysts note that operational data on the progress of harvesting show a significant lag in harvesting while yields are increasing.
"We saw a reduction in soybean areas for the third consecutive season in 2020/21 as a consequence of the government's taxation policy. This led to Ukraine's lowest soybean harvest in the last seven seasons, 3 mln t," Svetlana Kupreeva adds.
Reportedly, soybean exports almost halved for a lower soybean crop combined with a proactive stance by processors. In addition, steady demand for non-GMO soybeans, high premiums exceeding USD 100 per ton compared to GM soybeans, proved to be a key feature of 2020/21.
As of 13 October, soybean harvest in Ukraine reached 2,013.73 mln t using the average yield of 2.57 t/ha (Oct. 2020: 2 t/ha). Producers in Khmelnytsky region harvested the highest yield of this oilseed crop — 3.8 t/ha.
