Ukrainian soybean growers predict their output to increase

20.02.2017

Viktor Tymchenko, President of the Ukrainian Soybean Producer Association, predicts Ukrainian soybean complex production to continue steadily increasing in the near term. The upward trend will be observed not only in production of soybeans but also in that of soybean products.

Soybean production in Ukraine will increase roughly 1.2 times, from 4.28 MMT in 2016 to 5.34 MMT in 2020. Soybean crushing in this period will grow 1.4 times, from 1.1 MMT to 1.5 MMT, reports UkrAgroConsult.

Consequently, soybean oil and meal production in Ukraine will expand in the coming years. Ukrainian soybean oil output is expected to rise 2.1 times by 2020, from 176 KMT to 370 KMT, while soybean meal production is to expand 1.5 times, from 750 KMT to 1.13 MMT.

 

UkrAgroConsult

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