India became the top importer of Ukrainian wheat

12.01.2017

The current season 2016/17 started in Ukraine with a record fast pace of grain exports, including wheat deliveries. At the same time, UkrAgroConsult estimates that Ukrainian wheat export availabilities will shrink by 7-8% in 2016/17 from the previous season in view of some crop decrease.

According to official statistics, wheat exports from Ukraine increased 7.7% compared to the same period of last season.

Ukrainian wheat exports went down in December. Ukrainian exporters supplied more wheat than last year. Nevertheless, Marina Sych, grain analyst of UkrAgroConsult, noted that wheat export potential of MY 2016/17 was almost 70% realized in the first half-year, whereas this percentage equaled 62% a year ago.

The main feature of the past year 2016 was strengthening of Ukrainian wheat’s positions in the Indian market. In the first half of the season, India made it to becoming the top importer of wheat from Ukraine, having sidelined major global buyers such as Egypt, Indonesia, Bangladesh and Thailand.

Full version of the article is available to subscribers for weekly market report “Black Sea Grain & Oil” and “Online market review” by UkrAgroConsult.

 

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