Soybean Area In Ukraine Is Bound To Increase By 17 % In MY 2014-15

Farmers In Ukraine received better return from Soybean in comparison to other crops and they have planned to increase coverage area under soybean in MY 2014-15.As per preliminary estimate area under soybean may increase by 17 percent to 1.6 mln ha in My 2014-15 against 1.36 mln ha last year. Production based on average yield may reach3.2 MMT. Global soybean market remains attractive for soya farmers. Overall outlook for soy products remains bullish.Besides there is good demand for meal,oil in domestic market too. Farmers can export soybean easily from the country.This growth is mainly stimulated by export attractiveness of this oilseed. Also, domestic soybean production is expected to continue responding to the domestic demand from growing industrial poultry and animal production in the country.