The new season in the production of soybean oil will raise the bar to a higher level.
In General, for the 2017/18 season production of soybean oil remained at a record level and amounted to 197,1 thousand tons against 159,2 thousand tons in the previous year (+23.8 percent). This is reported by analysts UkrAgroConsult informs Rus.Media.
In August, the production of soybean oil in large and medium-sized enterprises in Ukraine amounted to 8.9 thousand tons, 32% less compared to the previous month and 10% compared to August last year. In addition, the August index was the lowest over the last four seasons, the result was a significant reduction in the stocks of raw materials.
So, as of September 1, processing companies have reduced stocks of soybeans to 67.1 thousand tons compared to the same period last year (100.7 thousand tonnes).
“Given the situation on the soybean market and the willingness of many to work with this raw material, the new season 2018/19 in the production of soybean oil will raise the bar to a new level”, – experts predict the “UkrAgroConsult”.
In July of the current year, production of soybean oil amounted to 13.1 thousand tons, which is by 28.4% less compared to the previous month, but nearly 13% more compared to July last year.
The pace of processing of soybeans in Ukraine, despite the decline in the last two months, remains at a high level. Since the beginning of the 2017/18 season (September-may) production of soybean oil is also kept at a record level and is 156,7 thousand tons, an increase compared to the previous year by 26.8%.