Business news from Ukraine

Business news from Ukraine

Ukraine reduced oilseed production in 2024

In 2024, Ukraine produced 21.7 mln tons of seeds of main oilseeds, which is 94% down compared to the previous year, according to the industry association Ukroliyaprom.
The current season sunflower production is estimated at 12 mln tonnes against 13.9 mln tonnes in 2023/24 marketing year (MY, July-2023-June 2024), which is down 14%.
The oilseed yield preliminarily decreased by 7.8% to 22.6 c/ha, the harvested area – by 5.4% to 5.3 mln ha.
As for rapeseed, Ukroliyaprom estimates its harvest at 3.6 million tons, down from 4.4 million tons in the previous season. The crop was harvested from almost 1.26 million hectares (-11.2%) with a yield of 28.4 c/ha (-2.7%).
At the same time, the association draws attention to the fact that the official information on the harvest of grains and oilseeds in Ukraine in terms of possible production of sunflower seeds has discrepancies with the estimates of various market experts, which is almost traditional for the market. Thus, with the area of 5.004 mln ha and the yield of 21 c/ha, the official sunflower seed production will reach 10.5-11.0 mln tons, which is significantly different from a number of expert estimates.
“Such discrepancies are repeated almost every year. According to the results of the marketing year, based on actual exports of oil, in particular sunflower oil, we can confirm much higher than official production of oilseeds (most of all, sunflower),” summarized Ukroliyaprom.