Exports of agricultural products may decrease by 23% in the next marketing year

Exports of grain and oilseeds from Ukraine in the 2023-2024 marketing year may decrease compared to the 2022-2023 MR by 22.8% — to 44.8 million tons.

This forecast was shared by the Ukrainian Grain Association (UGA). According to UGA, the harvest may also decrease — from 73.8 million tons of grain and oil crops in 2022 to 69 million tons in 2023.

In general, last season, according to UGA, exports reached 58 million tons. Ukraine’s revenue from the export of grain, oilseeds and oil reached about $20 billion in the last marketing year.

UGA also notes that transitional balances at the beginning of the new season amounted to almost 10 million tons of grain and oil crops, which is 2.5 times more than in previous seasons, except for the 2022-2023 MR.

“We would like to remind you that the smaller volume of the future harvest compared to previous seasons is due to the occupation of part of the territory of Ukraine, mining, hostilities, and the lack of funds and other resources for farmers for a full-fledged sowing campaign and crop cultivation,” UGA reminded.

According to the association’s estimate, a total of about 19.7 million hectares have been sown, compared to an average of 25 million hectares in previous years.