In 2015/16 MY, Ukraine to increase soybean processing and exports

In 2015/16 MY, Ukraine to increase soybean processing and exports

In 2015/16 MY, Ukraine to increase soybean processing and exports

The FINANCIAL -- Taking into account the forecasted record harvest of soybeans at 4.2 mln tonnes in 2015/16 MY, in Ukraine the total supply of the oilseed will increase by 7% - to 4.3 mln tonnes, informed 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".

According to her, in the new season the volumes of soybean processing will increase to 1.2 mln tonnes, up 14% compared with 2014/15 MY. Such situation is formed by the high demand for soybeans and its by-products from both domestic consumers and export-oriented companies, and increasing of the oilseed processing capacities, due to launching of new plants and modernization of the existing lines.

A.Burka stressed that in the reporting season Ukraine will ship nearly 2.5 mln tonnes of soybeans on foreign markets, up 7% compared with the index of the current MY, which would become the absolute maximum for the market.