In the 2023/24 marketing year, Ukraine is expected to significantly increase production of oilseeds, in particular sunflower, soybean and rapeseed seeds, which will amount to about 3.5 million tons compared to the previous season. This was announced by Stepan Kapshuk, CEO of Ukroliyaprom.

He noted that one of the key features of this marketing year is a significant increase in domestic processing of rapeseed and, accordingly, an increase in production and export of rapeseed oil and meal. It is expected to reach the record level of domestic rapeseed processing - 1 mln tons.

In July-November of the current marketing year, more than 0.8 mln tons of rapeseed were processed. The production of rapeseed oil is expected to reach 0.42 mln tons, and exports - 0.4 mln tons.

Mr. Kapshuk also pointed out the expected increase in sunflower seed processing to 13.5 mln tons, which is more than 90% of the sunflower resources. Sunflower oil production is expected to increase to 6 mln tons, which is more than 3% higher than in the pre-war season of 2020/21.

In particular, in 2023, the production of sunflower oil is expected to increase to 5.8 mln tons, which will exceed the production in the pre-war year 2021 by 11.5%. Exports of sunflower oil and meal are also expected to increase to 5.5-5.6 mln tons, which is a 10% increase compared to the previous period.

Mr. Kapshuk emphasized that the realization of these forecasts depends on the maximum processing of oilseeds at domestic facilities and the absence of restrictions on the export of oil and meals.