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Ukraine has reduced the export of agro-industrial products by 17% in the current marketing year

14 Jan, 2024
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Ukraine has reduced the export of agro-industrial products by 17% in the current marketing year

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In the 2023/2024 marketing year (from July 1 to December 31, 2023), Ukraine exported 31 million tons of agro-industrial complex products, which is 17% less than the same period in the 2022/2023 marketing year. This information is reported by the press service of the Ukrainian Agricultural Business Club on Facebook.

"For the first half of the 2023/24 marketing year, Ukraine was able to export 31 million tons of various types of agro-industrial products, which is 17% less than the corresponding figure of the previous year," the announcement states.

It is noted that in December 2023, Ukraine exported 7.7 million tons of agro-industrial complex products, which is 15% more than the same indicator of the previous month. However, not all the products have physically crossed the border, and a significant amount of transportation is still in queues to exit.

In December of last year, Ukraine exported 5.4 million tons of cereals (the share of corn in the export structure is 64%, wheat - 32%, barley - 4%), which is 20% more than in November 2023. The export of oilseeds amounted to 774 thousand tons (the share of soybeans - 56%, rapeseed - 37%, and sunflower seeds - 5%), which is 14% less than in November.

In December, Ukraine exported 708.3 thousand tons of vegetable oils, which is 15% more than in November. The export of meal after extracting vegetable oils in December increased by 7% to 493.7 thousand tons. Other types of agro-industrial products amounted to 401 thousand tons, which is 5% more than in November of last year.

The Ukrainian Agricultural Business Club emphasizes that the main distinctive feature of exports in December 2023 is the beginning of active corn exports due to the availability of maritime exports, allowing exports to countries such as China and Egypt.

"Ukraine urgently needs to preserve and increase export volumes. Insignificant export shipments at the beginning of the marketing year have led to the accumulation of stocks, primarily of cereals, and as of the beginning of 2024, we have larger carryover stocks than a year ago. These are 'frozen' funds of Ukrainian farmers that are essential for continuing economic activities, especially against the backdrop of low prices for cereals and oilseeds in the Ukrainian market," emphasized in the Ukrainian Agricultural Business Club.

The Odessa Journal

The Odessa Journal

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