Ukroliyaprom predicts further increase in oil production in Ukraine

Ukraine

Published Jan 19, 2022

Tridge summary

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 the world is not necessary will reduce seed prices. We will remind that in the previous season the prices for sunflower in Ukraine doubled, and in separate periods reached 25-27 thousand UAH / t.

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