Ukraine. Oilseed markets’ potential in MY 2018/19 grows due to the sunseed crop

23.05.2018

The final 2017 harvest results have been published in Ukraine. According to official information, no dramatic changes happened in oilseeds production. The State Statistics Service of Ukraine slightly increased the production figures for sunseed (12,235.5 KMT against 12,170.6 KMT estimated preliminarily) and soybeans (3,899 KMT against 3,890 KMT), while the rapeseed crop was left at its previously stated level of 2,194.6 KMT.

It is worth noting that, while the sunseed crop increased on an upward revision of both harvest area (+13.5 Th ha) and yield (2.02 MT/ha), soybean production rose solely due to additional harvest areas (+5.7 Th ha) with an unchanged yield of 1.97 MT/ha.

At the moment, when planting is not yet complete, the final size of planted areas continues to be the main point in oilseed production forecasts for the new season 2018/19. Fresh in memory is the protracted start of planting followed by rapid temperature growth, up to summer values, that forced farmers to promptly adjust their plans and mobilize all their resources to complete planting within optimum time limits, reports UkrAgroConsult.

The end of oilseeds planting is not far off now. So, as of May 17, farmers still have to seed a remaining 4% of the projected sunflower area and 22% of the soybean area. Soybean seeding is currently 93.6% the progress of last year, suggesting UkrAgroConsult to leave its planted area estimate unchanged.

At the same time, sunflower planting, which set a record in May, is advancing toward Ukraine’s all-time high level.

Full version of the article is available to subscribers for weekly market report “Black Sea Vegoils” and “Online market review” by UkrAgroConsult.

More information on oilseed crops production and vegetable oils trade in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Vegoils" by UkrAgroConsult.

 

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