President of the Ukrainian Soybean Producer Association Viktor Tymchenko predicts Ukrainian soybean complex production is to continue steadily growing in the near term, according to UkrAgroConsult.
The upward trend will be observed not only in soybean production but also in soybean processing, UkrAgroConsult said.
Soybean production in Ukraine will increase roughly 1.2 times, from 4.28 million tonnes in 2016 to 5.34 million tonnes in 2020. Soybean crushing in this period will grow 1.4 times, from 1.1 million tonnes to 1.5 million tonnes, UkrAgroConsult reported.
Consequently, soybean oil and meal production in Ukraine will expand in the coming years. Ukrainian soybean oil output is expected to rise 2.1 times by 2020, from 176,000 tonnes, to 370,000 tonnes, while soybean meal production is to expand 1.5 times, from 750,000 tonnes to 1.13 million tonnes.
