Ukraine sees further cuts in grain exports

REUTERS

The Ukrainian Agribusiness Club Association (UCAB) says Ukraine sees further cuts in grain exports in the current marketing year (MY, July 2020-June 2021) over a lower harvest in 2020.

Read also Wheat exports account for over 80% of target as of April 5 – ministry In particular, since the beginning of the season, Ukraine has shipped 14.4 million tonnes of wheat and 16.5 million tonnes of maize abroad, which is 20% and 29% down, respectively, from the same period in MY 2019/20, the UCAB's press service wrote on Facebook on April 15.

"The reduction is related to the shortage of the said crops harvest in the summer of 2020. However, due to the rise in prices of wheat and maize, the decline in export revenue is not so rapid. Over the period under review, export revenue from wheat [exports] shrank by 20%, while that from [those] of maize by 7%," the press service quoted expert Svitlana Lytvyn as saying.

Also, the increased demand for maize on the world market has led to an unusual situation with prices on the Ukrainian grain market. Traditionally, the price of wheat has exceeded that of maize. Today, the purchase price of maize in Ukrainian seaports is 8-10% up from wheat prices.

Background

  • The grain harvest in 2020 totaled 65.4 million tonnes, which was almost 7 million tonnes down against 2019.
  • The Ministry for Development of Economy, Trade and Agriculture has revised upwards its forecast for grain exports from Ukraine in the current marketing year (MY, July 2020-June 2021) by 300,000 tonnes, to 45.7 million tonnes.
  • Wheat exports in MY 2020/21 are projected at 17.5 million tonnes, while those of maize at 24 million tonnes.

Translation: Olena Kotova

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