During the first two months of MY 2016/17 volume of processed soy by Ukrainian companies amounted to 152,7 KMT. The index of the current season, however, is almost 18% below the result of the same period of 2015/16 season, despite record soy harvest in 2016.
It’s worth mentioning that in 2016 the total harvest of soybeans in Ukraine amounted to record 4,13 MMT, despite the fact that crop area was 300,0 thsd ha less than a year earlier. Such achievement became possible due to increase of productivity indicators, which equaled 2,3 t/ha on average in 2016 against 1,8 t/ha in 2015. According to FAO data, during the last five years average productivity indicators of soy have been fluctuating in the range between 2,3-2,6 t/ha, which helps to suggest that soy production has a great potential for growth in Ukraine not only extensively but also using intensive method of crop cultivation.
Soybeans of Ukrainian origin are widely consumed on foreign markets, so most of the cultivated soy is exported as a raw material for oil extraction. However, increase of the complex processing capacities in recent years has been reflected in the growth of processed soy volume both in relative and in absolute terms.
