Soybean harvest in Ukraine in 2024 is estimated at 6.23 mln tons, and the yield is the lowest in the last four seasons

UkrAgroConsult's forecast for Ukraine's soybean harvest in 2024 is 6.23 million tons, up from 5.26 million tons in 2023, despite the lowest yield in the last four seasons at 2.35 tons per hectare. The increase in planted areas, despite the drop in yields, has led to a record harvest. The largest production regions are in the Center, North, and West of the country. UkrAgroConsult, through its platform AgriSupp, provides market intelligence for grains and oilseeds in the Black Sea & Danube markets.

UkrAgroConsult estimates the soybean harvest in 2024 at 6.23 mln tons, compared to 5.26 mln in 2023. And the final soybean yield is expected to be 2.35 tons per hectare, the lowest in the last four seasons. Sergey Feofilov, the founder and CEO of UkrAgroConsult, told about this in the interview for The Ukrainian Farmer magazine. According to him, the general upward trend of oilseeds prices and high margins of the previous season-2023/24 became the key to the attractiveness of oilseeds for the farmer. Soybeans showed the amazing result – the profitability went from negative to positive, which is the reason for the significant expansion of the area by 700 thsd ha, or 35% to the record 2.7 mln. “However, it is the spring crops that are most negatively affected by the dry, hot summer. We expect the final soybean yield to be 2.35 tons per hectare, the lowest in four seasons. Although the average soybean yield in 2024 decreased compared to last year, the sharp increase in planted areas ...