2024-06-05T10:30:00+03:00 Politics 2024-09-15T04:21:46+03:00

Ukrainian news

Farm produce exports down 11% to 7.4 million tons in May

Farm produce exports down 11% to 7.4 million tons in May

In May, the export of agricultural products decreased by 11% compared to April to 7.4 million tons.

This follows from a statement by the Ukrainian Agribusiness Club association, the Ukrainian News agency reports.

In May, the export of grain crops decreased by 12% month over month to 5.5 million tons (corn - 67%, wheat - 30%, barley - 3%); the export of oilseeds decreased by 35% to 207,400 tons (soy – 54%, rape – 35% and sunflower seeds – 7%); the export of vegetable oils increased by 15% to 763,700 tons (sunflower oil - 94%, soybean oil - 5%, rapeseed oil - 1%); the export of cake after oil extraction decreased by 17% to 509,900 tons (sunflower - 87%, soybean - 13%); and export of other types of agricultural products decreased by 3% to 409,800 tons.

"This is probably the first month during the war when the reduction in export volume was not caused by external factors. In the process of the operation of our maritime export corridor, the export becomes a certain predictability, some farmers hold the products closer to the end of the season in order to get a better price. In addition, "transitional product balances are decreasing. All of this leads to a reduction in export volumes... In the coming month, harvesting of winter crops (wheat, barley, and rapeseed) will begin, and export volumes will also begin to recover," the report said.

As the Ukrainian News agency earlier reported, in April, the export of agricultural products increased by 16% compared to March to 8.3 million tons.

In 2023, Ukrainian farmers exported products worth almost USD 22 billion.