Ukraine’s Oct grain exports down by almost half y/y -ministry data

Ukraine’s grain exports in October have almost halved year on year to 2.15 million metric tons from 4.22 million, the agriculture ministry data showed on Monday.

The ministry said Ukraine had exported a total of 8.9 million tons of grain in the 2023/24 July-June season, down from 12.9 million in the same period in 2022/23.

The exported volume this season included 4.5 million tons of wheat, 3.6 million tons of corn and 679,000 tons of barley. In the same period last season Ukraine had exported 4.9 million tons of wheat, 6.8 million tons of corn and 1.09million tons of barley.

While the ministry gave no explanation for the decrease, traders and farmers’ unions have said blocked Ukrainian Black Sea ports and Russian attacks on Ukrainian ports on the Danube River are the main reasons for lower exports.

Ukraine has traditionally shipped most of its exports through its Black Sea ports.

A deal brokered by the United Nations and Turkey allowing those exports collapsed in July when Russia withdrew, saying its demand that sanctions be lifted on its own grain and fertiliser exports had not been met.

Ukrainian officials said more that 50 cargo vessels have entered a new Black Sea shipping corridor since it came into operation in August as Kyiv steps up a push to defy the de-facto Russian blockade.

Ukraine’s government expects a grain and oilseeds harvest of79 million tons in 2023, with a 2023/24 exportable surplus of about 50 million tons.

Tags: Ukraine, exports, corn, grain, barley, wheat, Black Sea ports