Ukraine soybean area to shrink in 2018 as profit to drop -analyst

2018/2/6 23:16:55

Ukraine harvested 3.89 million tonnes of soybean from 1.9 million hectares in 2017.

 


 

 

 

 

 

 

 

 

By Reuters Staff

 

KYIV, Feb 6 (Reuters) - The area sown for soybeans in Ukraine is likely to shrink by 14-17 percent this year due to an expected decrease in profits for the crop, analyst UkrAgroConsult said on Tuesday.

 

Ukraine harvested 3.89 million tonnes of soybean from 1.9 million hectares in 2017.

 

“Soybean margins will decrease almost by half to 25.4 percent in 2017. Combined with tax innovations, this will make growers less interested in this crop and entail a 200,000 to 300,000 hectare cut in plantings for the 2018 harvest,” the consultancy said in a report.

 

Last year, the Ukrainian parliament cancelled a VAT refund for exports of oilseeds from Sept 1, 2018, a move which could cause a significant decrease in Ukrainian purchasing prices and prompt growers to reduce sowing area.

 

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https://af.reuters.com/article/commoditiesNews/idAFL8N1PW11P

 

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