Ukraine’s grain exports have seen a significant jump in May, climbing to 5 million metric tons compared to just 3 million tons by the same stage last year, according to data from the country’s agriculture ministry.
The overall grain exports for the 2023/24 July-June marketing season have reached 46.4 million tons as of May 29, up from 44.9 million tons in the previous season.
The exports include 17.2 million tons of wheat, 26.2 million tons of corn, and around 2.4 million tons of barley. Ukraine typically sends about 95% of its grain exports through its Black Sea ports.
Despite the ongoing Russian invasion and the disruptions to Ukraine’s agricultural sector, the government expects a harvest of 81.3 million tons of grain and oilseeds this season, with an exportable surplus of around 50 million tons.
However, the ministry has warned that the 2024 combined grain and oilseed crop could fall to 74 million tons, including 52.4 million tons of grain. The economy ministry is even more pessimistic, expecting the 2024 grain and oilseed crops to reach just 73 million tons.
The significant increase in May’s grain exports, up 67% year-on-year, is a testament to Ukraine’s resilience and efforts to maintain its agricultural productivity amid the ongoing conflict. The country continues to play a crucial role in global food security, particularly for countries that rely on Ukrainian grain exports.
As the war drags on, the future of Ukraine’s agricultural output and export potential remains uncertain. However, the current surge in exports suggests that the country is finding ways to navigate the challenges and maintain its position as a major player in the global grain market.