Grain exports from Ukraine in MY 2020/21 may reach new record high – UGA forecast

The Ukrainian Grain Association (UGA) says grain exports from Ukraine in the current marketing year (MY) July 2020 through June 2021 may reach a new record high.

Revenue from grain exports is expected to be higher than in MY 2019-2020, the Ukrainian TSN TV news service reported on February 5, referring to the UGA.

Read alsoUkrainian farmers boost profit by 1.5 times in 2020 – expertsIn particular, the yield capacity was at a relatively good level in 2020. Therefore, local farmers had gathered the third or fourth largest grain harvest over Ukraine's independence. Since prices of grain crops are not falling, Ukraine is expected to post profit which will be no less than in the previous period.

Meanwhile, the country's State Fiscal Service reported a decrease in grain exports from Ukraine. According to its data, exports in the past period of MY 2020-2021 totaled about 29 million tonnes, which was 21% down on year-over-year in MY 2019-2020.

Background

• In MY 2019-2020, Ukraine ranked second among the world's top grain suppliers, with the United States topping the list of exporters.
• According to the U.S. Department of Agriculture (USDA), which ranks major grain exporters, Ukraine became a runner-up in barley supplies, fourth in corn exports, and fifth in wheat shipments.