Ukraine corn, wheat exports expected to fall

Published May 18, 2023

Tridge summary

The Ukrainian Grain Association (UGA) has forecasted a decrease in the country's corn and wheat exports for the marketing year 2023-24 due to the ongoing impact of Russia's invasion. The corn harvest is expected to drop to 21.1 million tonnes from 27.3 million tonnes, leading to an estimated export volume of 19 million tonnes, a 30% decrease from the previous season. Similarly, wheat exports are projected to decline to 14 million tonnes from 15.5 million tonnes. Despite these challenges, Ukraine's oilseed production is expected to see a rebound, with significant increases in sunflower seed and soybean harvests. The extension of the Black Sea Grain Initiative, which has facilitated the export of Ukrainian agricultural products, is under discussion as the deal's expiration approaches on May 18. The European Union has also supported Ukrainian agricultural exports through overland routes.

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Original content

Ukraine’s corn and wheat exports are both projected to fall in marketing year 2023-24 amid Russia’s ongoing invasion, informed the Ukrainian Grain Association (UGA). Nikolay Gorbachov, president of the UGA, said the corn harvest is forecast to fall to 21.1 million tonnes, down from 27.3 million tonnes the previous season due to a lower planted area. He said corn exports are expected to drop to 19 million tonnes in 2023-24, off 30% from an expected 27 million tonnes in 2022-23. “The lower export forecast is due to a lower (crop) area, but also because we compare it to the high ones in the current campaign, when we had huge stocks,” Gorbachov said аt the GrainCom conference in Geneva, Switzerland, Ukraine’s wheat crop is projected to fall to 17 million tonnes from 20.2 million last year. Of this, 14 million tonnes could be exported in the upcoming season, down from 15.5 million in 2022-23, Gorbachov said. Oilseed production looks set to rebound, with the sunflower seed harvest up ...

Source: UkrAgroConsult