Oilseed production in Ukraine will increase by almost 1.5 million tons next season – Ukroliyaprom

UkrAgroConsult

The total harvest of major oilseeds in Ukraine in 2023/24 MY may reach 19.484 mln tonnes, up 8.1% (1.467 mln tonnes) compared to the current season (18.018 mln tonnes). This forecast was announced by the association Ukroliyaprom.

As noted, the main factor of this growth will be the expansion of the planted area, which is estimated at almost 8.74 mln ha (+11.7% compared to 2022/23 MY), while the average oilseed yield will decrease slightly – by 3.%, to 2.23 t/ha.

In terms of individual crops, sunflower production is expected to increase by 6.5% to 11.813 mln tonnes next season. The planted area under the crop will increase to 5.668 mln ha (+9.7%), while the yield will decrease to 2.08 t/ha (-3.3%).

In 2023/24 MY, 1.345 mln ha (+20.2%) will be planted with rapeseed, with the average yield of 2.65 t/ha (-9.3%), and the harvest of 3.564 mln tons of seeds (+9.%).

The largest production in percentage terms is expected for soybeans – by 12.2%, to 4.07 mln tons. This will be driven by an increase in the planted area (by 11.9%, to 1.726 million hectares) and a slight increase in the oilseed yield (by 0.4%, to 2.38 t/ha).

Further development of the Black Sea and global grain and oilseeds markets will be discussed by UkrAgroConsult analysts and leading agribusiness operators at the EURO GRAIN HUB Exchange & Forum on April 26-28 in Bucharest, Romania.  Join the key stakeholders from the Black Sea region, Central & Eastern Europe and Balkans, contributing to the global commodity supply chain.

Tags: Ukraine, sunflower, soybean, rapeseed