The harvest in Ukraine in 2024 will be smaller than expected, Taras Kachka

Published May 24, 2024

Tridge summary

Ukraine's conservative forecast for its 2024 oil and grain crop harvest is 73 million tons, with optimistic projections suggesting it could equal or slightly exceed last year's results. This is a 10% decrease from the 82 million tons harvested in 2023, primarily due to reduced acreage for grain crops because of unfavorable global market prices and high export logistics costs. The forecast includes an increase in soybean production to 5.2 million tons. The actual harvest could be slightly lower, with some market participants predicting a harvest of 76.1 million tons.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to a conservative forecast, the potential harvest of oil and grain crops in Ukraine in 2024 will reach the level of 73 million tons. This was stated by Deputy Minister of Economy - Trade Representative of Ukraine Taras Kachka, writes Ukrinform. The official expressed hope that the actual harvest may be close to last year's results and exceed the conservative forecast. It should be noted that according to the preliminary forecasts of the Ministry of Agriculture, in 2024 the gross production of grain and oil crops will reach 74 million tons. This is 10% less than the harvest of 2023, which was 82 million tons. Market participants predict that in 2024, the harvest of grain and oilseed crops in Ukraine will decrease to 76.1 million tons. This is due to the reduction of acreage under grain crops due to unfavorable price conditions on the world market and relatively expensive export logistics. It is predicted that this year farmers will be able to collect grain in the ...
Source: Agropolit
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