Ukraine. Oilseeds: Record acreage does not equal record harvest
UkrAgroConsult
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Oilseed production in Ukraine was significantly affected by the war. In 2022, reduction in oilseed areas was accompanied by a decrease in harvest. However, in 2023 the areas recovered with total record harvest. Favorable weather of 2023 also contributed to this result.
As a rule, farmers’ decisions on sowing area distribution are formed based of the previous season’s results. Thus, the most attractive crops for farmers in 2025 are the most profitable oilseeds of 2023/24 MY.
Oilseed prices were bullish for the whole 2023/24 season, determining higher margins of oilseeds compared to that of cereals. Soybean margins changed from negative to impressively high figures, explaining significant expansion of soy areas in 2024.
In 2024/25 MY, total oilseed area was record high of 9.83 M ha.
Over the last three years, the areas distribution changed in favor of soybeans (share of 27% in 2024 vs. 15% in 2022) and rapeseed (15% vs. 12) at the expense of SFS (58% vs. 73%).
However, record areas do not guarantee record yields. Taking into account long-term observations, UkrAgroConsult warned of a high probability of a negative scenario in 2024.
Further development of the oilseed and vegoil sector in the Black Sea and Danube region will be discussed at the 10th International Conference BLACK SEA OIL TRADE on October 15th in Bucharest.
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