02/02/2024 – 8:31
São Paulo, 2 – Corn exports from Ukraine are expected to reach 29.2 million tons in 2023/24, an increase of 8% compared to the previous commercial year, estimated in a report the representation of the United States Department of Agriculture (USDA) in Kiev. As for wheat, the projection indicates an increase of 3%, to 17.7 million tons. The agency highlights that the country presents higher volumes of grain production in 2023/24 and that, by the end of 2023, Ukraine has independently resumed operations in its main seaports on the Black Sea, Chornomorsk, Odessa and Pivdennyi, in addition to expanding shipping capacity via the Danube River.
Based on the high export rate in December 2023, the agency estimates that, if Ukraine maintains the monthly average shipment of around 4 million tons of grains, the country will export a large part of the harvest and reach the projected numbers. In recent years, Ukraine has exported an average of 3.8 million tons of grain each month. However, January shipments are expected to be slightly lower than the previous month, says the USDA. Still, concerns about transit through the Red Sea “do not yet appear to have a significant effect on exports” and, according to exporters, have only slightly increased bulk freight rates.
As for production, in the most recent report from October, the USDA office estimates that corn should reach 30.55 million tons in 2023/24, compared to a forecast of 26.2 million tons projected for 2022/23. Ukrainian wheat production is expected to total 23.14 million tons, while the projection for the previous commercial year was 22.07 million tons.
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