Ukraine continues breaking soybean records

Ukraine continues breaking soybean records

Ukraine continues breaking soybean records

The FINANCIAL -- In 2015 the Ukrainian market of soybeans is expected to break another record of production, mainly due to expansion of the planted areas to the record level of 2.15 mln ha (up 19% compared with last season), declared Anna Burka, oilseed market analyst of APK-Inform Agency, during her report at the third conference "Ukrainian soybean market: prospects for development in 2015-2020".

The forecast is based on the fact that a significant share of the polled agrarians (more than 20%) plans to expand their soybean areas or start planting the oilseed, due to the high demand from customers both on the domestic market and export-oriented companies, expectations for favorable market conditions, and high level of the oilseed profitability. According to the State Statistics Service of Ukraine, the profitability of soybean production in 2014 totaled 34%, added A.Burka.

According to the speaker, there is expected some reduction of the oilseed yield by 9% compared with last year - to 1.97 t/ha. Due to rather significant rising of prices for material and technical resources, many agricultural enterprises will save on production resources and, above all, on mineral fertilizers. At the same time, the weather conditions will somewhat neutralize the influence of such factor, said A.Burka.

Despite the reporting decline of soybean yield, in 2015 Ukraine will produce the record volumes of the oilseed at 4.2 mln tonnes, up 8% compared with the 2014 index, the expert concluded.