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By the end of May, Ukraine will export all remaining grain stocks, which will lead to price increases in the country and globally

18 Apr, 2024
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By the end of May, Ukraine will export all remaining grain stocks, which will lead to price increases in the country and globally

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By the end of May, Ukraine will be able to export all remaining grain stocks from the 2023 harvest, which will lead to price increases both domestically and globally, said Mykola Gorbachev, President of the Ukrainian Grain Association (UGA), at the Black Sea Grain conference in Kyiv on Thursday.

"Our forecast is that prices will slightly increase. We will see by the end of the season that prices will go up a bit because Ukraine will be able to export almost all of its remaining stocks by the end of May. June will pass for us with almost nothing left. Prices in the world will go up slightly. Yields in Europe will be lower. Prices will be slightly better for our agricultural producers," he said.

Gorbachev also expressed hope that the logistical component, including the operation of the ports of Odessa, will improve. This will enable Ukrainian agrarians in 2025 to focus not only on profitable crops, which are currently unprofitable for them, but also on increasing production in all sectors of the agricultural sector.

 

 

Among the difficulties that exporting companies will face in the 2024 season, the president of UGA mentioned the predicted alliance of France and Poland, which will oppose the access of Ukrainian grain to the European market. In his opinion, these two countries will lobby for the introduction of legislative and sanitary restrictions that will hinder Ukrainian businesses.

At the same time, Gorbachev expressed confidence that this will encourage Ukrainian agricultural businesses to seek new markets.

"It is logical that we will find them. Whether it will be Africa or additional volumes in Asia, but still, we will sell all the grain. There will be competition again somewhere, we will have to give up something or build something new. (...) Next year we will be even stronger because we need it," concluded the president of UGA, assuring of the high adaptability of the Ukrainian agricultural business.

The Odessa Journal

The Odessa Journal

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