Ukraine: Corn production expected to fall by 6% in 2024/25, says USDA in Kiev; wheat to fall by 9%

Published 2024년 4월 17일

Tridge summary

The USDA's report from Kiev highlights a projected downturn in Ukraine's agricultural sector for the 2024/25 commercial year, with corn production expected to decrease by 6% to 26.6 million tons and exports by 9.35% to 22.3 million tons, largely due to the unprofitability following Russia's invasion. Similarly, wheat production is anticipated to drop by 9% to 21.1 million tons, with a significant 26.9% reduction in exports to 12.8 million tons. Despite these setbacks, there's a silver lining as improved Black Sea logistics could enhance export capabilities, and the European Union remains a strong market for Ukrainian grains, thanks to the temporary suspension of import taxes and quotas.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

By Ana Ritti São Paulo, 04/17/2023 - Ukraine is expected to produce 26.6 million tons of corn in the 2024/25 commercial year, the representation of the United States Department of Agriculture (USDA) in Kiev said in a report. The volume represents a drop of 6% compared to the estimate for 2023/24, of 28.3 million tons. However, the volume is slightly higher than that projected for 2022/23, of 26.2 million tons. The agency highlighted that grain production in Ukraine remains unprofitable since Russia's invasion, which has led to a projection of lower cultivation area and production for the next marketing year 2024/25. Regarding exports, the agency projects a 9.35% decline in Ukrainian corn shipments, which begins in October, going from 24.6 million tons in 2023/24 to 22.3 million tons in 2024/25. The volumes are below the estimated for 2022/23, of 27.12 million tons. Despite the decline, the USDA said improved logistics in the Black Sea favor exports and result in low ending stocks. ...

Source: Broadcast