Ukraine: The forecast for soybean harvesting is up to 4 million tons

This year, soybean harvest volumes can reach 4 million tons.

Such information was provided by APK-Inform.

Analysts also forecast a possible decrease in the area allocated for soybean due to the cancellation of the VAT refund on the export of oilseed crops.

To date, it is projected to reduce the number of sown areas to 1.9 million hectares, which is 5% less than the figure of previous year.

It should also be recalled that this year soybean production in the world is expected to reach 334.8 million tons. The forecast for production level was reduced by slightly more than 6 million tons.

Ukraine plans to increase soybean production to 4 million tons this year, thanks to the expansion of sown areas and improved weather conditions. This is a significant increase compared to last year, when production was 3.5 million tons. In this regard, the export of soybeans from Ukraine will also increase.

According to experts, this year the area under soybeans increased by 8-10%, which provided conditions for increasing yields. In addition, the weather conditions in spring turned out to be favorable for the development of culture. All this allowed Ukrainian farmers to hope for a good harvest.

The increase in soybean production may have a positive impact on the export performance of Ukraine. Soybeans are one of the country’s key export products, and an increase in yields could strengthen Ukraine’s position in the global market. In addition, this can become an incentive for further development of the industry and increase the profitability of Ukrainian farmers.

Thus, Ukraine plans to increase soybean production to 4 million tons this year, which can be a good incentive for the development of the industry and strengthening export performance.