USDA raised the forecast of soybean oil exports from Ukraine in 2023/24 MY

The USDA analysts revised their forecast of soybean oil exports from Ukraine in 2023/24 MY upward by 4.5% to 345 thsd tonnes. In the September report, the export forecast was 330 thsd tonnes.

According to the experts, the shipment of soybean oil from Ukraine in 2022/23 season will reach 275 thsd tonnes, up 17% compared to the previous season.

The highest export volumes of Ukrainian soybean oil for the last four seasons were reached in 2019/20 MY – 338 thsd tonnes:

• 2019/20 MY – 338 thsd tonnes;
• 2020/21 MY – 232 thsd tonnes;
• 2021/22 MY – 235 thsd tonnes;
• 2022/23 MY – 275 thsd tonnes.

As of October 12, Ukraine harvested 81% of the soybean crop. The company harvested 3.77 mln tonnes of beans with the average yield of 2.58 t/ha.

Tags: Ukraine, export, soybean oil, USDA Report