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UKRAINE EXPORTS TOP LAST YEAR

Despite continued Russian attacks on Ukraine’s infrastructure, the nation has managed to export 3.997 million metric tons (MMT) of grain and legumes so far during May compared with just 2.707 MMT during the same period last year. The stronger May exports have pushed Ukraine’s total exports for 2023/24 (July-June) to date

45.4 MMT up from roughly 44.6 MMT for the same period during 2022/23, according to agriculture ministry and customs service data reported by Ukrainian media. Ukraine has reportedly exported 16.95 MMT of wheat and 25.56 MMT of corn so far in 2023/24.

Ukraine’s grain exports are still expected to fall in 2024/25, though, due to lower planted acreage as the war with Russia continues to negatively impact Ukrainian farmers. In addition, Ukraine’s wheat production may be cut by frost damage and by dryness as recent dry weather in key growing areas is forecast to continue in June.

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