Business news from Ukraine

Business news from Ukraine

Ukraine establishes Bean and Soybean Association for development of industry

30 January , 2025  

A memorandum on the merger of the Ukrainian Pulses Association and the Ukrainian Soybean Association and the creation of a new Ukrainian Pulses Association was signed in Kyiv on Thursday as part of World Pulses Day.

The heads of the associations expressed confidence that the merger will allow them to concentrate resources, join forces and work out a unified development strategy for the pulses industry.

“It is very important for us that the associations are effective and that business moves forward. We are now at the stage of transformation, because we see the importance of pulses. And this season, we see sunflower being supplemented with soybeans in processing. This means that livestock farming will develop in parallel,” said Vitalii Koval, Minister of Agrarian Policy and Food.

According to him, in 2024, Ukraine increased exports of soybeans by 4.8% to $1.3 billion, which is 1.6 times or $115 million more than in 2023.

The Minister expressed confidence that with the unification of the two associations, these percentages will increase. He also emphasized the importance of initiatives that should come from business and said that officials would be waiting for new proposals.

Antonina Skliarenko, President of the Bean and Soybean Association of Ukraine, stated that the pulses sector in Ukraine is growing. In 2024, the country harvested 469 thsd tonnes of peas from the area of 212.3 thsd ha, and exports amounted to 364 thsd tonnes. It is expected that in 2025 the area under peas will grow by 20%, and under lentils – by 10-15%. Further expansion of soybean areas is also forecasted.

“The united association is a logical step in the development of the industry, as Ukrainian producers of pulses and soybeans face increased competition in international markets, the need to adapt to European standards and introduce innovations to improve efficiency,” Skliarenko summarized.