Demand for Ukrainian wheat is growing on international markets

Market & Price Trends
Published Feb 25, 2024

Tridge summary

Ukraine is experiencing a surge in wheat exports, with over 2 million tons contracted for export since February, potentially setting a record for the current agricultural season. Indonesia is a significant buyer due to rising domestic prices. However, transportation issues through the Red Sea due to Houthi attacks on merchant ships present a challenge. Despite these obstacles, Ukrainian wheat remains the most affordable on most international markets, with recent sales to Egypt at $224 per ton, compared to Russian wheat at $245 per ton.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Demand for wheat produced in Ukraine continues to grow on international markets, with more than 2 million tons already contracted for export since the beginning of February, which could turn out to be a record for the current agricultural season, which began on July 1, 2023, reported the electronic edition of APK-Inform, referring to experts and the analytical center of the agricultural cooperative "PUSK", created within the framework of the All-Ukrainian Agricultural Rada. From there they add that 1.4 million tons of wheat have already been sold for March as well. "Traders say that Indonesia is very actively involved in the purchases of Ukrainian fodder wheat. In the domestic market in this Asian country, prices have skyrocketed and it is showing interest in importing grain. The asking price in Indonesia is $260-265 per ton CIF," the analysts said. However, they note that although the export of Ukrainian wheat to Indonesia is very profitable, the "tar spoon" is the problems with ...
Source: Sinor
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