Analyst Inform increases Ukraine’s 2024/25 oilseed harvest, export outlook

Ukraine’s APK-Inform agriculture consultancy has slightly revised up its forecast for the country’s soybean and rapeseed harvest and exports in the 2024/25 July-June season, it said on Monday.

Soybean output is seen at 6.15 million metric tons with exports of 3.55 million tons while the rapeseed harvest is expected at 3.91 million tons with exports of up to 3.35 million tons.

The consultancy said in October that the soybean harvest could total 5.93 million tons and rapeseed 3.90 million tons.

APK-Inform kept its 2024/25 sunflower seed harvest forecast at 13.8 million tons, allowing the production of 6 million tons of sunflower oil.

Ukraine is a major global provider of sunoil but exports could fall to 5.55 million tons in 2024/25 from 6.25 million tons in 2023/24 due to lower production, the consultancy said.

Data from the Ukrainian grain traders union UGA showed that Ukraine’s exports of major oilseeds fell in November as stocks decreased and prices fell.

The first deputy agriculture minister Taras Vysotskiy told Reuters last month that a large Ukrainian soybean harvest had caused a drop in prices and farmers would return to corn in 2025, cutting the area planted with soybeans.
Source: Reuters (Reporting by Pavel Polityuk; Editing by Kirsten Donovan)