USDA predicts a decrease in Ukrainian wheat exports
14.05.2024 - 13:11
The US Department of Agriculture (USDA) predicts a reduction in the production and export of Ukrainian wheat.
On May 10, the USDA published the global forecast of the balance of major agricultural crops for the 2024/25 marketing year, UCAB reports.
According to USDA forecasts, in 2024/25, Ukraine’s indicators of wheat and corn production will decrease compared to the previous year: wheat — -2 million tons to 21.0 million tons; corn — -4 million tons to 27 million tons.
Ukrainian grain exports will also decrease: wheat — -3.5 million to 14 million tons, corn — -2 million tons to 26 million tons.
The global wheat market forecast for FY 2024/25 predicts slightly lower opening stocks than the previous year, increased production and consumption, moderate growth in trade and a reduction in ending stocks.
In FY 2024/25, production is forecast at a record 798.2 million tons.
Production increases in India, China, Australia, Kazakhstan, Canada and the US are expected to more than offset production declines in Russia, the UK, the EU and Ukraine.
Read also: Ukraine can get permission to export flour to China
