How the structure of crops will be formed in 2024 in Ukraine – forecast

The crop structure in 2024 will be shaped by the profitability of a particular crop. Current trends show that priority will be given to oilseeds, with soybeans being the most promising, and sugar beet the most promising crop.

This was emphasized by Sergiy Feofilov, CEO of UkrAgroConsult.

“The harvest in 2024 is likely to be 50-60 million tons, while grain exports will reach 35-40 million tons,” Mr. Feofilov forecasts.

He also recalled that UkrAgroConsult’s May forecast of 2023 wheat harvest of 20-21 mln tons shocked the entire market, as the market was confident in a harvest of 16-17 mln tons.

“In the end, Ukraine will harvest 22 mln tons of wheat. The forecast of increasing the role of the processing sector also came true. This was especially noticeable in the oilseed industry. Never before has the country processed so much rapeseed and soybeans,” the expert said.

Tags: oilseeds, crop forecast, Ukraine, grain