This year, the most profitable crop for growing in Ukraine will remain sunflower, which has a high profitability, since a significant drop in demand and prices for it is not expected.
This is reported by the ProAgro Group with reference to GrainTrade.
“According to the association “Ukroilprom”, in 2021/22 MY sunflower harvest in Ukraine rose compared to the previous season by 25.9% to 16.5 million tons, soybeans – by 22.7%, to 3.4 million tons, rapeseed – by 15.4% to 3 million tons. While the global production of oilseeds, according to USDA estimates, in 2021/22 MY will increase by 3.9% – to 627.58 million tons, including sunflower – by 16.1%, to 57.04 million tons, soybeans – by 4.2%, to 381.8 million tons. Although rapeseed production will decrease by 6.6% – to 68.35 million tons,” says the publication.
However, experts point out that a significant sunflower harvest in Ukraine and the world will not necessarily lead to lower prices for seeds. Recall that in the previous season the sunflower prices in Ukraine have doubled, and in some periods reached 25-27 thousand UAH/ton. For 2021/22 mg the experts do not expect a sharp rise in sunflower prices, but their fall as well.
Therefore, Ukroilprom predicts that farmers will continue to expand the area of sunflower planting. Thus, in 2021 they increased in comparison with the previous year by 2.2% up to 6.5 million hectares, and the yield increased by 22.3% from 20.6 c/ha to a record 25.2 c/ha. However, even despite the expansion of sowing areas, the sunflower crop in Ukraine in 2022 is unlikely to exceed the 2021 figure.
