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28 March 2024

News

14.11.2014

UCAB forecasts increasing of gross harvest of soybean by 40% and exports – by 51%

UCAB forecasts increasing of gross harvest of soybean by 40% and exports – by 51%

Harvesting campaign of soy beans moves to its end, and the gross harvest of soybeans this marketing year will be about 3.8 mln t that is 40.1% more than in 2013/14 MR. The same time, it is forecasted that exports of this crop will increase by 42.8-50.7% up to 1.8-1.9 mln t. It was informed by the Association "Ukrainian Agribusiness Club” (UCAB).

The rapid increase in the production of soy beans was achieved primarily through intensification: cropland was increased by 32.0% up to 1.8 mln h because of reduction of the areas under corn, which showed a fairly low economic efficiency the previous season. Yield has increased. It is expected that it reaches the mark of 2.2 t/ha by the end of the harvesting campaign that would mean an increase by 5.9% compare to the last season.

"Taking into account the forecast of the Ministry of Agriculture of the United States concerning the gross harvest of this crop in the world, Ukrainian share in the global production could rise from 1.0% to 1.2%, and in trade – from 1.1% to 1.6%. Increasing the presence of Ukrainian goods in the world market is, of course, a positive phenomenon, but the experience shows that record-breaking natural indicators do not always mean record-breaking economic results ",- indicated Igor Ostapchuk, the Expert of agrarian markets of the Association" Ukrainian Agribusiness Club” (UCAB).

In general, in 2014/15 MY soy beans world production can reach the record 312.1 mln t (+ 9.5%), and the ratio of the final residuals to the general offer in the market – 18.4%, that is 3.6 points over the last year's value.

On the international market, the purchasing prices for soybeans are currently recovering after the seasonal droping. Since mid-September, soybeans futures have rosen already by 20.2 USD/t (+ 5.6%) on the CME. As soon as this commodity is export-oriented in Ukraine, domestic prices will follow the international trends. But it is hard to say how long will the rising price trend continue, because of a significant increase in the supply of soybeans on the international market is possible through the expected record gross harvest in the countries of South America.

Association "Ukrainian Agribusiness Club"  

3 floor, 146 Zhylianska Str.

01032 Kyiv, Ukraine

Phone/Fax: +380 44 2362097/79

[email protected] 

Tetyana Kotyk 

www.ucab.ua 

 

The Association "Ukrainian Agribusiness Club" (UCAB) www.ucab.ua  was founded in 2007 to protect the economic and professional interests of players of agribusiness in Ukraine. UCAB is a unique platform in Ukraine for establishing business contacts between the leaders of agribusiness, improvement their work and dialogue with the government. UCAB actively supports Ukrainian producers in establishing and maintaining international business relations. The Association consists of the largest producers and processors of agricultural products in Ukraine.

 




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