As of April 1, 2019, soybean stocks inside the country amounted to 1.6 million tons, which is a record high and 600 thousand tons more than last year, according to a statement by the expert of the oilseed market of Ukragroconsult company Yulia Garkavenko.
According to the analyst, the main reason for this increase in soybean stocks in Ukraine is a decrease in its export supplies. This was due to the cancellation of VAT refunds during soybean exports. The innovation took effect in September 2018.
In addition to lower export volumes, the cessation of VAT refund led to a noticeable decrease in soybean prices, which made it cheaper than rapeseed and sunflower.Over the past five years, there has been no such thing as soybean costing less than other oilseeds, said Yulia Garkavenko. Earlier it was reported that soybean productivity in the climatic conditions of Ukraine is at the level of 1.8-4 t / ha. 1 hectare, on which soybeans are grown, provides a profit of € 1 thousand, says Alexey Yazykov, the owner of Zhiva Niva company from the Zhytomyr Region.
Given the high profitability of the crop, in 2019, the farm intends to allocate half of the sown area for its cultivation - 3.2 thousand hectares.If we talk about the profitability of cultivation, then soy is more profitable than corn, says Yazykov.