Ukraine’s 2014 soybean harvest to hit 3.6 million tonnes

The surprisingly dry summer of 2014 had no negative impact on the soybean harvest, contrary to other crops, especially sunflower seed. Farmers harvested this crop from 96% of the area by early November. According to UkrAgroConsult’s estimates, the crop may be 33% higher than last year, and the soybean quality is rated as good.

Results of the harvesting campaign of the oilseed became the reason for improving the forecast. Based on the total supply of oilseed, which is estimated 3.7 million tonnes, in 2014/15 the volume of domestic processing of soybeans may increase to a record of 1.4 million tonnes, and exports to 1.9 million tonnes.

Ukraine has plans to further boost the volume of the soybean harvest. By 2017, the country plans to plant 2 million ha of soybeans and collect 4 million tonnes of soybean, expecting to increase the demand for this crop on the domestic feed industry market.