In December, Ukraine’s agricultural exports decreased by 11.1%

In December 2024, Ukraine exported 5.5 million tons of agricultural products, which is 11.1% less than the same indicator of the previous month.

The reduction in the volume of agricultural exports is observed for the second month in a row, the Ukrainian Agrarian Business Club(UCAB) reports.

“And, perhaps, for the first time in wartime, this reduction is not due to the logistical restrictions that the Russian army creates for us, but to the current market situation, a decrease in food stocks intended for export, and the desire of Ukrainian farmers to sell their products in a more favorable period,” the report says.

As in November, oilseed crops show the largest percentage of reduction. Analysts explained that this is due to a significant depletion of rapeseed stocks intended for export and a reduction in the rate of soybean exports due to the low current price for it, especially compared to last year.

Exports of vegetable oils have also decreased significantly.

“Due to a significant increase in prices for sunflower seeds, some farmers are in no hurry to sell the grown crop. This has led to a reduction in the production of sunflower oil, and accordingly, in the volume of exports. It is worth noting that this phenomenon is temporary,” the UCAB noted.

A similar situation is observed with the export of grain crops.

“The price of corn, which currently occupies the lion’s share in grain exports, has positive dynamics on the Ukrainian market, and some farmers are in no hurry to export the entire grown volume in the current period, expecting even more favorable times. And in combination with a decline in the pace of wheat exports, this has led to a reduction in grain exports,” the analysts concluded.

As previously reported by USM, the Ukrainian agricultural sector set a second historical record in 2024 — $24.5 billion in foreign exchange earnings from agricultural exports.