Ukraine exported 339 thsd tonnes of barley in March, one of the season’s record highs

Ukrainian barley has leveled off in price compared to corn, making it more competitive and contributing to demand growth. This was discussed on April 2 during the analytical briefing of the PUSK cooperative, created within the framework of the VAR.

“Ukraine exported 339 thsd tonnes of barley in March, which is one of the record figures of the season. We can expect to export 200 thsd tonnes each in April and May. In the feed group of grains, prices have developed in favor of barley: corn is $10 per ton more expensive than barley. As a result, Ukrainian barley has become more competitive and is in demand from the EU and Turkey. The main barley trade takes place in Odesa ports, where the notional price is about $145 per ton. We predict that the price tags will rise by another $1-2 per ton this week,” said the analytical department of the PUSKa.

On the domestic market, barley prices have also increased. “A week ago, processors could buy barley at 4700-5000 UAH/t, as of April 02, real prices rose to 5200-5400 UAH/t on CPT basis,” the PUSK added. Ukraine is actively sowing barley. “The sowing campaign continues, almost 292 thsd ha have been sown, which is a normal pace. According to the forecasts of the Ministry of Agrarian Policy, the barley acreage will be about 810 thou hectares. The main regions where barley is cultivated are Odesa and Mykolaiv.

The farther away from the port the region is, the lower the profitability of barley growing there,” the analysts explain. Indicative prices for the new barley harvest are $145-155 per ton on CPT port basis.

Tags: export, barley, Ukraine