Ukraine to export mostly feed wheat until the season’s end

05.02.2019

According to current data of the State Fiscal Service of Ukraine, 28.05 MMT of grains had been exported this season by January 31, including 11.75 MMT of wheat (6.91 MMT – milling wheat including flour in grain equivalent, 4.84 MMT – feed wheat), 3.27 MMT of barley, 12.42 MMT of corn.

Thus, Ukrainian exporters had already shipped abroad 73.4% of the exportable wheat volume agreed under the Memorandum for MY 2018/19. At the same time, exports of milling wheat, including flour in grain equivalent, and feed wheat already amounted to 86.3% and 60.5% of their respective agreed volumes.

According to the Memorandum, Ukrainian wheat exports in February-June ought not to exceed 4.25 MMT (1.09 MMT of milling wheat including flour and 3.16 MMT of feed wheat), reports UkrAgroConsult.

The practice of recent years shows that exports usually exceed their volumes agreed under the Memorandum, though mostly to a slight degree. However, in the opinion of UkrAgroConsult, this season hardly will witness the same again. Wheat inventories in the country are at a low level, with still smaller availabilities of exportable quality commodity.

In addition, Black Sea wheat price becomes uncompetitive in the world export market – moreover, Ukrainian market players are focused mostly on export of corn. 

More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Grain" by UkrAgroConsult.

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UkrAgroConsult

 

 

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