Ukraine’s grain exports in March have reached 3.2 million metric tons, a slight decrease from the 3.5 million tons exported during the same period last year, according to data from the agriculture ministry released on Wednesday. The country’s total grain exports for the 2023/24 marketing season from July to June have declined to approximately 32.9 million tons compared to 35.1 million tons in the previous year.
The breakdown of exports for March includes 13 million tons of wheat, 17.6 million tons of corn, and 1.89 million tons of barley. Ukraine predominantly exports about 95% of its grain through its deep-water Black Sea ports.
Spike Brokers brokerage, which monitors export statistics, predicted a potential 20% decrease in Ukrainian agricultural maritime exports for March compared to February. In February, Ukraine exported 5.8 million tons of various grains, reflecting an 11.5% increase from the previous year, although the ministry did not provide a specific reason for this rise.
The Ukrainian government anticipates a total harvest of 81.3 million tons of grain and oilseeds in 2023, with an estimated exportable surplus of around 50 million tons for the 2023/24 season.
The fluctuations in Ukraine’s grain exports highlight the dynamic nature of the agricultural sector and the various factors influencing production and trade patterns in the country.