Global rye prices drop to five-year low

Published 2024년 11월 8일

Tridge summary

Before the Russian invasion, Ukraine was the fourth largest exporter of rye with a 5.2% share. In 2021, the country exported nearly 137,000 tonnes of rye. However, due to the conflict, Ukraine's global export share has dropped to 0.3%, and the country now ranks 18th among rye suppliers. The main importers of Ukrainian rye are Spain, Poland, Turkey, Romania, Slovakia, and Germany. In 2023, Ukraine exported 6.4 thousand tons of rye for $1.4 million, and in the first nine months of 2024, the country exported 8.1 thsd tonnes of rye, primarily to Spain. The global price for rye has decreased by 9.1% since 2023, reaching a low of 202 USD/t in 2024.

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Original content

Before the full-scale invasion of Russia into the territory of Ukraine, our country with a share of 5.2% ranked 4th in the ranking of rye exporters. This was reported to AgroPortal.ua by Oleksandr Nechyporenko, Deputy Director of the Institute of Agrarian Economics for Research, Corresponding Member of the National Academy of Agrarian Sciences of Ukraine. At the same time, he reminds that in the pre-war year 2021, the supply of domestic rye to the world market amounted to almost 137 thsd tonnes. “Currently, Ukraine ranks 18th among rye suppliers, and its share in global exports is only 0.3%. The main and largest importers of Ukrainian rye are Spain, Poland, Turkey, Romania, Slovakia, Germany, and a number of other countries that ensure stable sales of products,” the scientist states. For example, in 2023, 6.4 thousand tons of rye were exported for $1.4 million. At the same time, deliveries to Poland and Slovakia amounted to 2.3 thsd tonnes each, and to Germany – 1.9 thsd tonnes. ...

Source: UkrAgroConsult