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Ukraine set for smaller 2017 soybean crop this year -UkrAgroConsult
April 19, 2017 / 6:39 AM / 6 months ago

Ukraine set for smaller 2017 soybean crop this year -UkrAgroConsult

KIEV, April 19 (Reuters) - Ukraine’s soybean output is likely to fall to 4.12 million tonnes this year, from 4.28 million in 2016, due to a smaller yield, analyst UkrAgroConsult forecast on Wednesday.

The soybean yield is set to fall to 2.17 tonnes per hectare this year from 2.30 tonnes in 2016, the consultancy said in a statement. The planted area will rise to 1.95 million hectares from 1.90 million a year earlier.

Farmers had sown 31,000 hectares of soybean as of April 18, according to agriculture ministry data.

UkrAgroConsult said that this season’s soybean exports are set to hit an all-time high of 2.8 million tonnes versus 2.37 million tonnes in 2015/16.

It forecast domestic soybean crushing will decrease to 950,000 tonnes, from 1.1 million tonnes, mostly due to lower domestic demand.

Soybean exports have totalled 2.3 million tonnes so far this season. (Reporting by Pavel Polityuk; Editing by Susan Fenton)

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