Rapeseed seen as most profitable among oilseed crops in 2017 – expert

"Based on the results of estimates for growing winter rapeseed, the total costs per hectare will be UAH 15,000 (US$579). Given the yield per hectare being 2,500 tonnes, one tonne of the produce will cost nearly UAH 6,000 ($231). If a selling price is set at UAH 11,000 ($424) per tonne, profit per hectare will reach UAH 12,500 ($482) with 83% profitability," the press service quoted the expert as saying.

However, experts predict somewhat lower profitability of sunflower crops, the report said.

"With the traditional technology of sunflower growing, overall production costs of this crop will be UAH 14,000 ($540) per hectare on the average. If the yield per hectare is 2,500 tonnes, one tonne of the produce will cost UAH 5,600 ($216). If it is sold for UAH 10,000 ($386) per tonne, profit per hectare will reach UAH 11,000 ($424), which will ensure profitability at 79%," Maslak said.

Read alsoFarmers thresh almost 20 mln tonnes of grain across UkraineOilseeds cultivation was the most profitable in 2016, when the profitability of sunflower crops was 61.9%, that of soybean 51.8% and rapeseed 45%, UkrAgroConsult said.

As UNIAN reported earlier, Ukrainian enterprises produced 81,600 tonnes of rapeseed oil in 2016, which was 45% down against 2015, due to a shortage of raw materials, as well as a decrease in the rapeseed output and large volumes of its exports. In 2016, Ukrainian farmers gathered 1.152 million tonnes of rapeseeds, which was 33.7% down from 2015. At the same time, 994,000 tonnes of this crop was shipped abroad (86% of the total harvest), which was 30.7% down from 2015.

Ukrainian farmers threshed 1.7 million tonnes of rapeseed crops from 650,000 hectares (83% of the target) as of July 28, according to the Agrarian Policy and Food Ministry.