Reduced corn harvest in Ukraine will affect exports

This year’s harvest in Ukraine will be smaller than last year. This opinion was expressed by Deputy Chairman of the All-Ukrainian Agrarian Council Denis Marchuk, the press service of the VAR reports.

He noted that farmers harvested about 33 million tons of new crops. However, unfavorable weather conditions have negatively affected late grains and oilseeds, which can lead to losses of more than 15%. In particular, the corn harvest, if the drought continues, will not exceed 22 million tons.

“This situation will have a negative impact on both the income of agricultural enterprises and the export potential of Ukraine,” said Denys Marchuk.

He reminded that since August 16, 2023, the Ukrainian agricultural sector has been able to export more than 43 mln tonnes of grain via the sea corridor.

“Already in this marketing year, we managed to sell more than 7 mln tonnes of agricultural products, which is 60% more than in the same period last year. However, a 10 million tons decrease in the corn harvest due to the weather will affect exports,” added the Deputy Head of the UGA.

Asia, Africa and the Middle East remain the traditional markets for Ukrainian products. At the same time, Ukraine’s presence in the EU has significantly increased due to the possibility of duty-free trade.

“We have increased our presence in the European Union, selling more than 15 million tons of corn, trading with countries such as Germany, Spain and Italy. This is an important impetus for increasing exports of not only raw materials but also value-added food products,” emphasized Denys Marchuk.

The quota restrictions on exports to the EU are also significant for Ukrainian producers.

“We have already exhausted quotas for some products, such as honey, oats, eggs, sugar, and may soon exhaust quotas for chicken. However, no such cuts are in the cards for the grain group. The drought has also affected the EU, and no grain surplus is expected there,” said Denys Marchuk, expressing hope that in the new marketing year, Ukrainian agricultural exports will exceed 40 million tons.

Tags: corn, export, crop forecast, Ukraine