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.
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