Ukraine has set a record for soybean processing
In March of this year, soybean oil producers set a new monthly record for the processing of this oilseeds.
So, in March 2019, slightly more than 31 thousand tons of soybeans were processed, which exceeds the figure for the past month by 13%, and is 50% more than the production figures for March of the past year. In February of this year, the volume of processing of this crop reached 27.7 thousand tons, and in March last year, this figure amounted to 20.9 thousand tons.
This information was provided by UkrAgroConsult.
In addition, the volume of soybean oil production in the current marketing year also increased and amounted to 161 thousand tons.
It should be recalled that durng 8 months of the current MY, the volume of foreign supplies of sunflower oil reached 4.15 million tons, whereas over the same period last year 3.71 million tons were exported. Thus, we can observe an increase in exports of the above-mentioned product by 12%.
Ukraine continues to actively develop its processing industry and agriculture, including soybean processing. In 2021, the country processed over 4 million tons of soybeans, setting a new record. This contributes to the increase in the export of soy products such as soybean meal and soybean oil, strengthening Ukraine’s position in the global market. In addition, the development of the processing industry creates new jobs and promotes economic growth in the country.