Reduced corn harvest in Ukraine will affect exports

Published Sep 3, 2024

Tridge summary

Ukraine's 2023 harvest is projected to be smaller than the previous year due to unfavorable weather conditions, with potential losses of over 15% for late grains and oilseeds. The corn harvest is expected to decline to 22 million tons, impacting the income and export potential of agricultural enterprises. Despite these challenges, Ukraine has seen an increase in agricultural exports, particularly to the European Union, where quota restrictions are impacting exports of certain products. However, no cuts are anticipated for grain exports. The author remains hopeful that Ukrainian agricultural exports will exceed 40 million tons in the next marketing year.

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Original content

This year’s harvest in Ukraine will be smaller than last year. This opinion was expressed by Deputy Chairman of the All-Ukrainian Agrarian Council Denis Marchuk, the press service of the VAR reports. He noted that farmers harvested about 33 million tons of new crops. However, unfavorable weather conditions have negatively affected late grains and oilseeds, which can lead to losses of more than 15%. In particular, the corn harvest, if the drought continues, will not exceed 22 million tons. “This situation will have a negative impact on both the income of agricultural enterprises and the export potential of Ukraine,” said Denys Marchuk. He reminded that since August 16, 2023, the Ukrainian agricultural sector has been able to export more than 43 mln tonnes of grain via the sea corridor. “Already in this marketing year, we managed to sell more than 7 mln tonnes of agricultural products, which is 60% more than in the same period last year. However, a 10 million tons decrease in the ...

Source: UkrAgroConsult