Ukrainian farmers will increase the sown area of soybeans in 2024
Market & Price Trends
Published Feb 12, 2024
Despite a significant drop in farmers' incomes, Ukraine's Ministry of Agrarian Policy anticipates the sown area in spring 2024 to be on par with the previous year. The decrease in winter wheat sowing due to poor weather may result in an increase in spring wheat sowing, but the total sown area is not expected to rise, with sunflower, soy, and corn being the only viable options. Challenges may arise from the lack of high-quality soybean seeds and low sunflower seed prices. The quality of the future harvest is uncertain due to the use of lower-quality wheat seeds, a result of financial constraints and export difficulties.
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Ukraine expects that the sown area in the spring of 2024 will be the same as last year. At the same time, the incomes of farmers fell significantly The head of the Ministry of Agrarian Policy Mykola Solskyi told Reuters about this. "I don't expect any drastic changes in terms of acreage. If the acreage is smaller, it will be a very small decrease," he said. Solsky noted that last fall, farmers sowed a smaller area of winter wheat due to bad weather, and this may force them to increase the area of spring wheat. Last year, 280,000 hectares of spring wheat were sown in Ukraine. For the 2024 harvest, 4.2 million hectares of winter wheat were sown against about 4.4 million hectares a year earlier. "There will definitely be no increase in the total sown area. I recognize its reduction, and the question immediately arises, what to sow then? We have only three options - sunflower, soy and corn," said the minister. According to him, farmers will try to increase the area planted with ...