Global rye prices drop to five-year low

Before the full-scale invasion of Russia into the territory of Ukraine, our country with a share of 5.2% ranked 4th in the ranking of rye exporters.

This was reported to AgroPortal.ua by Oleksandr Nechyporenko, Deputy Director of the Institute of Agrarian Economics for Research, Corresponding Member of the National Academy of Agrarian Sciences of Ukraine.

At the same time, he reminds that in the pre-war year 2021, the supply of domestic rye to the world market amounted to almost 137 thsd tonnes.

“Currently, Ukraine ranks 18th among rye suppliers, and its share in global exports is only 0.3%. The main and largest importers of Ukrainian rye are Spain, Poland, Turkey, Romania, Slovakia, Germany, and a number of other countries that ensure stable sales of products,” the scientist states.

For example, in 2023, 6.4 thousand tons of rye were exported for $1.4 million. At the same time, deliveries to Poland and Slovakia amounted to 2.3 thsd tonnes each, and to Germany – 1.9 thsd tonnes.

In 9 months of 2024, the company shipped 8.1 thsd tonnes of rye, including 7.2 thsd tonnes to Spain, for the total amount of $1.6 mln.

“It should also be taken into account that the world price for this crop tends to decrease. Since 2023, it has decreased by almost 9.1% to 202 USD/t. This is the lowest price since 2019,” summarizes Oleksandr Nechyporenko.

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Tags: Ukraine, export, prices