Soybean harvest in Ukraine in 2024 is estimated at 6.23 mln tons, and the yield is the lowest in the last four seasons

UkrAgroConsult estimates the soybean harvest in 2024 at 6.23 mln tons, compared to 5.26 mln in 2023. And the final soybean yield is expected to be 2.35 tons per hectare, the lowest in the last four seasons.

Sergey Feofilov, the founder and CEO of UkrAgroConsult, told about this in the interview for The Ukrainian Farmer magazine.

According to him, the general upward trend of oilseeds prices and high margins of the previous season-2023/24 became the key to the attractiveness of oilseeds for the farmer. Soybeans showed the amazing result – the profitability went from negative to positive, which is the reason for the significant expansion of the area by 700 thsd ha, or 35% to the record 2.7 mln.

“However, it is the spring crops that are most negatively affected by the dry, hot summer. We expect the final soybean yield to be 2.35 tons per hectare, the lowest in four seasons. Although the average soybean yield in 2024 decreased compared to last year, the sharp increase in planted areas compensated for the drop in yields, which allowed us to get a record soybean harvest,” said Sergey Feofilov.

In addition, he said, geographically the largest soybean producing regions are traditionally located in the Center, North and West of the country, which reduces military risks, and the increase in soybean acreage occurred in almost all regions.

Tags: UkrAgroConsult, soybean, Sergey Feofilov, yield, crop forecast, Ukraine