Ukraine halves grain exports in Jan

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.