Ukroliyaprom predicts further increase in oil production in Ukraine

Published 2022년 1월 18일

Tridge summary

Experts in Ukraine predict that sunflower cultivation will be the most profitable crop for the country this year, with a significant increase in harvest compared to the previous season. This trend is expected to be global, with an overall rise in oilseed production. However, sunflower prices are not anticipated to significantly fluctuate, with factors such as energy prices, demand for biofuels, and edible vegetable oils influencing the market. Farmers in Ukraine are planning to further expand sunflower cultivation, although it is unlikely that the harvest will surpass 2021 levels. Purchase prices for sunflower and soybeans, especially those with GMOs, have seen adjustments due to the devaluation of the hryvnia and other market dynamics.

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

Original content

Experts believe that this year the most profitable crop for growing in Ukraine will be sunflower, which has a high profitability, as a significant drop in demand and prices is not expected. According to the Ukroliyaprom Association, in 2021/22 MY the sunflower harvest in Ukraine increased by 25.9% compared to the previous season to 16.5 million tons, soybeans - by 22.7% to 3.4 million tons, rapeseed - by 15.4% to 3 million tons. While world production of oilseeds, according to USDA estimates, in 2021/22 MY will increase by 3.9% to 627.58 million tons, including sunflower - by 16.1% to 57, 04 million tons, soybeans - by 4.2% to 381.8 million tons, although rapeseed production will decrease by 6.6% to 68.35 million tons. However, experts emphasize that a significant sunflower harvest in Ukraine and around the world will not necessarily lead to lower seed prices. We will remind that in the previous season the prices for sunflower in Ukraine doubled, and in separate periods reached ...

Source: Graintrade