A decrease in the corn harvest in Ukraine will affect exports

Published 2024년 9월 2일

Tridge summary

Ukraine is facing significant agricultural losses due to adverse weather conditions, with grain and oil crop losses estimated at over 15%, including a potential corn harvest shortfall of 10 million tons. This will negatively impact both local agricultural enterprises and Ukraine's export potential, which has seen a 60% increase this year compared to the previous period, reaching over 7 million tons of agricultural products. Traditional markets in Asia, Africa, and the Middle East, along with increased sales in the European Union (EU), where Ukraine has exceeded its quotas for several products, are under strain. Despite the drought affecting the EU, grain surplus is not anticipated, offering hope for increased exports in the new marketing year.

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Original content

This opinion was expressed by the Deputy Chairman of the All-Ukrainian Agrarian Council, Denys Marchuk, the press service of the VAR reports. He noted that farmers collected about 33 million tons of new harvest. However, adverse weather conditions have adversely affected late grain and oil crops, which may result in losses of over 15%. In particular, the corn harvest, if the drought continues, will not exceed 22 million tons. "Such a situation will have a negative impact on both the incomes of agricultural enterprises and the export potential of Ukraine," says Denys Marchuk. He reminded that from August 16, 2023, the Ukrainian agricultural sector was able to export more than 43 million tons of grain through the sea corridor. "Already in this marketing year, we managed to sell more than 7 million tons of agricultural products, which is 60% more than in this period last year. However, the decrease in the corn harvest due to the weather by 10 million tons will affect the volume of ...

Source: AgroPortal.ua