Ukraine. Grain harvest of 66 MMT: unreal reality

25.01.2017

The Agricultural Policy Ministry, with reference to preliminary information of the State Statistics Committee, has published grain production estimates for 2016. The Committee will publish these figures officially in early February.

According to the preliminary information, the 2016 grain production was up almost 10% year-on-year at 66 MMT. A 323 Th ha decrease in planted area of cereals was more than offset by a 12% rise in the average yield to an unprecedented 4.61 MT/ha, UkrAgroConsult notes.

For most commodities, the official figures coincided with market expectations. Questions only arose over late crops – soybeans and corn – whose harvests were much higher than the estimates. The excess over expectations is particularly noticeable for corn: 28 MMT against the market figure of 25-26.5 MMT, Elizaveta Malyshko, Grain market expert of UkrAgroConsult, comments.

In UkrAgroConsult’s opinion, there are two possible explanations for the high official figures...

Full version of the article is available to subscribers for weekly market report “AgriNews, Kyiv” and “Online market review” by UkrAgroConsult.

 

UkrAgroConsult

Readers choice: TOP-5 articles of the month by UkrAgroConsult