Ukraine exported grains and oilseeds worth $10.76 billion in MY 2023/2024

Published 2024년 7월 9일

Tridge summary

During the 2023-2024 marketing year, Ukraine successfully exported 57.5 million tons of grains and oilseeds, representing over two-thirds of its total harvest, to various countries and earned revenue of $17.86 billion. This achievement was greatly facilitated by the establishment of the Ukrainian Humanitarian Corridor and the implementation of a ship insurance mechanism at its ports, leading to increased efficiency and affordability in export logistics. The exports consisted of wheat, barley, corn, soybeans, and rapeseed, with wheat being the most significant contribution. Spain, Egypt, and Indonesia were the top buyers of wheat, while China, Indonesia, and Cyprus showed the highest demand for barley. Corn was popular in Spain, China, and Egypt, and soybeans found favor in Egypt, Turkey, and Germany, rounding out the top buyers for each exported grain type. Overall, these exports played a crucial role in boosting Ukraine's agricultural sector and economy.

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

Original content

Ukraine exported 57.5 million tons of grains and oilseeds in the 2023-2024 marketing year, which ended on June 30, 2024, out of a harvest of 82.8 million tons, while carryover stocks amounted to about 7 million tons, the Ukrainian Grain Association reports. “Last season, the most important factor for the export of Ukrainian grain was the opening of the Ukrainian Humanitarian Corridor, which allowed exports by sea from the deep-water ports of Odesa region. The second most important factor was the introduction by Ukraine, together with international partners, of a working mechanism for insurance of ships entering Ukrainian ports, which reduced the costs of exporters and, accordingly, Ukrainian agricultural producers for export logistics,” the association noted. According to the UGA analysts, referring to the information of the State Customs Service, in monetary terms, the exports of grains and oilseeds in 2023/2024 MY amounted to $10.76 bln, and exports including products from them, ...

Source: UkrAgroConsult