Ukraine. Will millet provide competition to buckwheat?


Buckwheat is still a topical subject for the Ukrainian market because it is a food of social importance in the country. We already wrote about this in the article “A speculative buckwheat market in Ukraine”. Today it is necessary to look at buckwheat from the viewpoint of producers, not consumers: what is happening in Ukraine’s buckwheat market and where it is moving now.

Last week, the State Statistics Service of Ukraine published preliminary data on the country’s total grain crop in 2017. So, according to this information, Ukrainian farmers harvested 181 KMT of buckwheat (net weight) that is a five-year high, reports UkrAgroConsult.

Production of buckwheat groats in Ukraine recovers, too. 54.5 KMT of buckwheat was produced in the country in 2017, or 1.3% more than in 2016. Buckwheat stocks are also much higher than last year. They totaled 19.5 KMT on December 1, 2017 (up 73% year-on-year).

However, despite further growth of buckwheat production and high stocks in the country, Ukrainian companies continue stepping up imports of this crop.

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



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