May 23, 2012
Ukraine's soyoil production grows steadily
Speaking at the international conference "Ukrainian soy market 2012" held in Yalta on May 17-18, Ignatiy Sergienko, General Director of NEOFORTE Ltd. said that Ukraine's soyoil production continues to steadily grow from year to year, according to APK-Inform.
According to him, since 2009-10 marketing year (MY) to 2011-12 MY production of soyoil in Ukraine increased by 44,300 tonnes (up 64%). At the same time, the production of pressed oil dominates in Ukraine (according to preliminary data, in the season-2011-12 the country will produce 60.9% of pressed soyoil and 39.1% of extracted oil).
Sergienko noted that mainly extracted soyoil is exported from Ukraine. Since 2009-10 MY to 2011-12 MY exports of soyoil increased by 25,300 tonnes (up 40%).
Poland is the largest consumer of Ukrainian soyoil. In 2011 the country imported 57% of the general export volumes of the product from Ukraine.
The expert believes that the future production of soyoil will significantly increase at expense of the extracted oil volumes. In the short-term prospect the production capacities for processing of soy and soyoil production will enhance the growth of soyoil production in the country to 211,000 tonnes per year.