Ukraine: S&D of oilseeds, vegetable oils and meals (December 2024)

2024/25 MY

Key factors of the 2024 harvest

• Redistribution of acreage – soybean acreage increases at the expense of sunflower;
• Weather factor – July heat and drought significantly reduced the yield potential of sunflower and soybeans, while winter rapeseed was less affected.

Oilseed area (UkrAgroConsult estimate)

• Sunflower – (-1.7% by 2023);
• Soybeans – (+35%);
• Rapeseed – (-6.3%).

The December oilseed crop forecast was adjusted based on current crop estimates and UkrAgroConsult’s revaluation experience:

• Sunflower – (-16% until 2023/24 MY);
• Soybeans – (+18%, November’s forecast – 6.1 M mt);
• Rapeseed – (-20%, November’s forecast – 3.67 M mt;).

In the current 2024/25 season, the size of the harvest dominates the price behavior of oilseeds in Ukraine. High prices for SFS and rapeseed and, conversely, low prices for soybeans are key drivers of the area distribution by crop for the 2025 harvest. In December, UkrAgroConsult will publish a forecast of the distribution of grain and oilseed areas by crops and harvests for 2025.