Historic soybean harvest is expected in Ukraine this year

Published 2024년 10월 25일

Tridge summary

Ukraine's 2024 soybean harvest is projected to hit a record 6 million tons, as stated by Taras Vysotskyi, the country's First Deputy Minister of Agrarian Policy and Food. This is part of an overall strong performance in grain harvests, with significant crops of wheat, barley, corn, and sunflowers. The high soybean yield is attributed to its lower requirements for fertilizers and its role in enhancing soil nitrogen, making it a valuable addition to crop rotation. Despite logistical and financial challenges, particularly from the ongoing war, soybeans are preferred for their lower cost and higher profit potential. Most of the harvest is expected to be exported, with the EU, Turkey, and China being the primary consumers.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The soybean harvest in Ukraine in 2024 may reach 6 mln tons, which is a historical record. This was stated by Taras Vysotskyi, First Deputy Minister of Agrarian Policy and Food of Ukraine, during a briefing. “We have wheat production at the level of the previous year – more than 22 million tons and about 6 million tons of barley, which is similar to the last year’s figure, and a good rapeseed harvest. Soybean harvest is expected to reach 6 million tons, which is a historical record. In addition, corn is expected to be harvested within 24 million tons and sunflower – 10 million tons,” Vysotsky said. According to him, the main grains (wheat, barley, rye, oats, legumes) and rapeseed have been fully harvested. Corn is 67% harvested, sunflower and soybeans are 95% harvested, and most of the sugar beets have been dug up. Vysotsky explained the expected record soybean harvest by the fact that it is an important crop for crop rotation. Financial conditions are difficult, so there are not ...

Source: UkrAgroConsult