The economy ministry of Ukraine predicts grain crop to fall to around 70 million tonnes. Ukraine Grain Exports Down By Over 20%.
Decline in Ukraine’s Grain Export
Ukraine’s grain export will witness a fall of 20% due to poor weather conditions. Also, the economy ministry has slashed its forecast of wheat output to 68 million tonnes from 70 million tonnes. It is 7.1 million tonnes less than last year’s production. It has exported 5.93 million tonnes of grain in the July-June season as compared to 7.62 million tonnes during the same period the previous year. The corn exports have decreased to 502,000 tonnes from 1.68 million tonnes. Besides, wheat exports have witnessed a decline of 0.5 million tonnes in a year. It produced 35.9 million tonnes of corn in 2019. The country is the world’s fourth-largest wheat exporter.
Export Forecasts
While the Ukrainian grain traders union UGA has forecasted total wheat output at 26.6 million tonnes and corn output of around 35.3 million tonnes. Also, the country can export 17.5 million tonnes of wheat, 29 million tonnes of corn, and barley 4.5 million tonnes in the 2020-21 season. Total exports may decrease to 28.5 million tonnes in 2020-21.
In all, trade unions and the government have given gloomy forecasts of grain output and exports owing to drought across the country.