UGA expects Ukraine's grain and oilseed harvest to decline in 2024

Published 2024년 3월 12일

Tridge summary

The Ukrainian Grain Association (UGA) predicts a decrease in Ukraine's grain and oilseed crops harvest for 2024, estimating it at 76.1 million tonnes compared to 82.6 million tonnes in 2023. The reduction is attributed to unfavorable global price conditions and costly export logistics, leading to a decrease in the area under crops, particularly cereals. The export volumes for 2024/2025 are projected to be around 43.7 million tonnes. While the yield of wheat, barley, corn, sunflowers, and rapeseed is expected to decrease, soybean yield may see an increase.

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

Original content

(MENAFN- UkrinForm) The Ukrainian Grain Association (UGA) has estimated the country's potential harvest of grain and oilseed crops for 2024 at 76.1 million tonnes compared to 82.6 million tonnes predicted by the analysts in 2023. The relevant statement was made by the Ukrainian Grain Association (UGA), an Ukrinform correspondent reports. “The current forecast is based on the average weather conditions of the last 5 years, so the improvement or deterioration of these conditions in the spring and summer may lead to adjustments. The potential decline in the new season's harvest will be caused by a reduction in the area under crops, mainly cereals, due to unfavorable global price conditions and relatively expensive export logistics,” the report states. According to the UGA, under such conditions, in the new season 2024/2025, the export volumes may come to about 43.7 million tonnes. In the current season, Ukraine's grain and oilseed exports may reach 53.1 million tonnes provided that ...

Source: Menafn