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Supply Chain

Ukraine Grain Exports Down 31.7% So Far In 2022/23: Agriculture Ministry

Ukraine has exported almost 16.2 million tonnes of grain so far in the 2022/23 season, down 31.7% from the 23.8 million tonnes exported by the same stage of the previous season, agriculture ministry data showed on Monday.

The volume included almost 6.3 million tonnes of wheat, 8.6 million tonnes of corn and 1.3 million tonnes of barley.

After an almost six-month blockade caused by the Russian invasion, three Ukrainian Black Sea ports were unblocked at the end of July under a deal between Moscow and Kyiv brokered by the United Nations and Türkiye.

Various Grains

Ministry data showed that 3 million tonnes of various grains were exported in the first 20 days of November, 29.7% less than in the same period of November 2021.

The government has said Ukraine could harvest between 50 million and 52 million tonnes of grain this year, down from a record 86 million tonnes in 2021 because of the loss of land to Russian forces and lower yields.

War, rain and economic hardship have depressed Ukraine's wheat plantings, depriving the nation of vital export earnings in 2023 and heralding another year of tight global supplies and potentially high prices for basic foodstuffs.

Could Prices Dip?

According to Rabobank's latest report, prices for agricultural commodities like coffee, feed grains and oilseeds could dip next year as many major economies enter recession, but they will remain high in historic terms.

The bank said consumers face a darkening macro-economic picture, with energy shortages, geopolitical danger and ongoing shortages of some key commodities like wheat boding ill for global food security.

News by Reuters, edited by Donna Ahern, Checkout. For more supply chain stories, click here. Click subscribe to sign up for the Checkout print edition.

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