In Ukraine, the production of soybean oil increased
In general, Ukraine has a tendency to reduce soybean processing in the last two months, however, in comparison with the figures for the previous year, we can observe an increase. So, in May 2018, slightly more than 18 thousand tons of soybean oil were produced, which is 8.6% less than in the previous month, but at the same time it is 27.5% more than in May of the last year.
Such information was provided by the portal “UkrAgroConsult”.
In 2017/18 marketing year, a record indicator for the production of soybean oil was the indicator for May.
In addition, production of soybean oil over the entire specified marketing year reached a level of 156.7 thousand tons, which exceeds the indicator of the past year by 26.8%.
According to experts, the production of soybean oil in the current MY can reach a historic record.
It should be recalled that in the world over this period, there was a decline in exports of soybean oil.
Over the past few years, soybean oil production in Ukraine has significantly increased. This is due to the expansion of soybean cultivation and the implementation of modern oil production technologies. Soybean oil is one of the most demanded oils in the world, used in the food and cosmetics industries. The increase in soybean oil production allows Ukraine to strengthen its position in the global market and increase its export potential. Additionally, soybean oil is a more beneficial and environmentally friendly product than vegetable oil, which also contributes to the growth in demand for this product. However, despite the increase in production, Ukraine continues to face competition from soybean oil produced in other countries. Therefore, it is necessary to constantly improve production technologies and increase the quality of the product to maintain Ukraine’s position in the global market.