Export of grain from Ukraine in January exceeded last year's corresponding figure

According to the State Customs Service, in 2023/24 FY as of January 24, Ukraine exported 22.147 million tons of cereals and legumes, which is 16% less than the 25.741 million tons exported during the same period last year. From January 1 to January 25, 3.682 million tons of grain were exported, while for January 1-25, 2023 - only 2.996 million tons.

Compared to the previous season, grain exports decreased:

• wheat - from 9.281 to 8.72 million tons,
• barley - from 1.788 to 1.273 million tons,
• rye - from 12.5 to 1 thousand tons,
• corn - from 14,571 to 12,003 million tons.

Compared to the same period of the previous season, the export of flour also decreased from 79.2 to 64 thousand tons, in particular wheat - from 75.4 to 60.9 thousand tons.

Thanks to the stable operation of the grain corridor provided by the Armed Forces of Ukraine from August 16, 2023 to January 24, 2024, 18 million tons of cargo were exported from Black Sea ports to 32 countries of the world, of which 12.7 million tons were agricultural products. The rest of the cargo is industrial products that Ukraine did not export through the previous "grain" corridor.

According to the forecast of experts of the All-Ukrainian Agrarian Council (VAR), in the second half of 2023/24, Ukraine will export 36-40 million tons of agricultural products, and in general in the season - more than 60 million tons, of which 50 million tons - grain and 10 million tons - oil crops .

In order to fulfill the USDA forecasts, Ukraine needs to export another 9 million tons of corn, 6 million tons of wheat, and 1.5 million tons of barley by the end of the season, which will take 4 months if the export volume is maintained at the level of 4 million tons per month.

Corn exports could exceed USDA's forecast of 21 million tonnes, but farmers are likely to reduce sales amid three-year lows for grain prices, leading to higher carryover stocks.