According to official information of the State Statistics Service of Ukraine on the preliminary results of oilseed production in 2018, the total crop of sunflower seed amounted to 14.16 MMT, up 15.7% from last year. Soybean production was up 14.4% year-on-year at 4.46 MMT. The total rapeseed crop increased by 25.1%, to 2.75 MMT.
The sunflower seed crop rose not only due to expanded plantings (+1.7%), but also because of its higher yield (+13.9%). In soybeans, an acreage decrease (-12.8%) was offset by a gain in yield (+31%). An opposite situation is seen in rapeseed: expanded plantings (+31.9%) with a lower yield (-5%).
Overall, the oilseed crop in 2018 will almost reach a new all-time high level. Please remember that the previous record was set in 2016, when Ukraine harvested more than 20.5 MMT, according to UkrAgroConsult’s estimates.
Rapeseed market segment is going flat, the soybean market is anticipating a surge in processing and the gain in sunflower seed production will be absorbed by crushers.
Detailed analysis of the latest trends in oilseeds/vegoils/meals exports, palm oil imports, supply and demand balances with breakdown by crop as well as crop conditions and progress in planting/harvesting in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Vegoils" by UkrAgroConsult.
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Sunflower oil production in the four months of the current season amounted to 1997.8 KMT