The Ukrainian Agribusiness Club Association (UCAB) says Ukraine in January 2021 halved exports of major grain crops in physical terms, while currency earnings from grain exports shrank by 41%.
Read alsoBread price hikes projected in Ukraine"In the first month of the new year, 2.65 million tonnes of grain was shipped abroad, which was 53% down against the same period last year," the UCAB's press service said on its website on February 2.
In particular, Ukrainian exporters reduced shipments of corn by 56% (to 1.99 million tonnes), while those of wheat by 45% (to 507,000 tonnes).
UCAB experts say the decline in export revenue was not so rapid (41% down, to US$562.4 million) due to rising prices of the whole group of grain crops.
A reduction in grain output in the last marketing year (MY, July 2019 - June 2020) was the main reason for the decline in exports. According to preliminary estimates, Ukrainian farmers lost 24% of corn, 14% of barley and 13% of wheat against MY 2018-2019.
Background
The Ministry for Development of Economy, Trade and Agriculture said the grain harvest in 2020 totaled 65.4 million tonnes, which was almost 7 million tonnes down against 2019.
