Analysts expect 2010 soy crop to break records in Ukraine

Ukraine should see a record soy crop in 2010, more than 1.5 million tonnes, compared to 1.04mn t in the 2009/2010 year, according to analysts at UkrAgroConsult, a consultancy.

Due to a late spring and the need to replant the dead winter crop, the area sown under soy grew to unprecedented levels in Ukraine this year, nearly 1 million hectares. This 46% increase over 2009 will allow processing enterprises to increase working capacity from the current 60% to 70–80%, according to UkrAgroConsult analysts.

According to UkrAgroConsult, exports have an opportunity to increase shipments of soy from Ukraine by more than 40%. A similar situation has been observed in other countries of the Black Sea region. UkrAgroConsult estimates are that in the new 2010/2011 marketing year, the area sown under soy will expand a total of 40.5%, while harvests will rise more than 30-35%.