Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Ukraine’s grain exports shrink sharply in September

Ukraine’s total grain exports stood at 1.57 million metric tons between September 1st and September 24th 2023, the country’s agriculture ministry said on Monday.

That compared with 3.21 million metric tons exported in the respective period of 2022. Yet, the ministry did not explain what caused such a sharp drop.

The country has exported a total of 6.2 million tons of grain so far during the 2023/2024 July-June season, compared with 7.5 million tons in the prior season.

The latest exports data included 3 million tons of wheat, 2.5 million tons of corn and 599,000 tons of barley.

The majority of Ukraine’s exports have usually been shipped through its deep-water Black Sea ports. The country is able to export smaller volumes of grain through river ports on the Danube and through its western land border with the EU.

Agricultural unions and traders have pointed to the blocking of Ukraine’s Black Sea ports and recent Russia assault on the country’s ports on the Danube River as the main reasons behind lower exports.

The nation is expected to harvest about 80 million tons of grain and oilseed this year, while its 2023/2024 exportable surplus stands at 50 million tons.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News