Ukraine soybean exports could hit record high

06-08-2012 | |
Ukraine soybean exports could hit record high
Ukraine soybean exports could hit record high

The deficit on the global market may lead to a record volume of soybean exports from the Ukraine, both in product and money terms – experts predict.

Soy has the potential to become a major oilseed crop export for Ukraine in 2012/13 MY. This forecast was given by Rodion Rybczynski, head of business projects of analytical agency APK-Inform in the course of the round table “Oilseed crops in Ukraine in 2012”.
“In the next season for the first time in the history of independent Ukraine soybean exports could bypass rapeseed exports. At the end of the 2011/12 season, the export levels of these two oil crops from Ukraine were approximately the same, however in 2012/13 MY the difference in the export volume is expected to be about 600,000 tonnes (1650 thousands tonnes vs. 1050 thousand tonnes) in favour of soybeans. In the medium term, soybeanexports will only grow” the expert said.
He also noted that according to APK-Inform analysts, on the basis of 2012/13 MY Ukraine will export approximately 3.47 million tonnes of oilseeds crops, which will be 29% higher than in 2011/12 MY.
By the end of this season, the volume of domestic oilseeds crop consumption in the country will be 10 million tonnes, a 3% drop on the previous season.
APK-Inform analysts also forecast that in 2012/13 MY Ukraine will reach record levels in terms of production and exports of sunflower oil – 3.7 million tonnes and 3.2 million tonnes, respectively, Rybchinsky added.
However there are other experts that say, in context of worsening weather conditions it is impossible to predict Ukraine’s oilseed crop production or export level.

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Vladislav Vorotnikov Eastern European correspondent
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