Ukraine. Soybean crushing proceeding at a record pace

Soybean oil production by large and medium-sized crushers in Ukraine in the first three months of the 2018/19 season broke last year’s record (43.3 KMT) and increased to 54.1 KMT, reports UkrAgroConsult.

In November 2018, soybean oil production totaled 18.4 KMT. This is 9% lower than in the previous month, up 15% from the same month last year and the highest-ever volume for November.

Despite a restrained start of the new season, the situation in the soybean market segment still allows expecting a significant rise in total soybean crushing in MY 2018/19.

As a reminder, market participants believe that processing of this oilseed will revive by the beginning of the new calendar year. UkrAgroConsult’s preliminary estimate for soybean oil production now remains at the previously announced level.