Ukraine's 2023 Grain And Oilseed Crop Forecast Raised

By Reuters
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Ukraine's 2023 Grain And Oilseed Crop Forecast Raised

The forecast for the combined grain and oilseeds 2023 harvest outlook for Ukraine has been increased by 3.7 million metric tonnes to 80.5 million tonnes, grain traders union UGA has said.

'The increase in this year's harvest forecast is due to favourable weather conditions and better-than-expected crop yields,' UGA said in a statement.

The harvest is likely to include 28 million tonnes of corn, 22 million tonnes of wheat, 5.8 million tonnes of barley, 13.9 million tonnes of sunflower seeds, 4.1 million tonnes of rapeseed and 4.8 million tonnes of soybeans, UGA said.

The farm ministry saw the grain harvest at 56.4 million tonnes for the year, compared with 55.3 million tonnes in 2022.

UGA said Ukraine's combined exportable surplus of grain and oilseed can total 49 million tonnes in the 2023/24 July-June season, versus 58 million tonnes in 2022/23.


Export Volumes

'UGA emphasises that such export volumes in the new season can only be achieved if Ukraine is able to export through its Black Sea ports, as well as if the logistics of alternative routes, including the Danube route, are improved and cheaper,' it said.

However, the Danube has become Ukraine's main route for exporting grain since July, when Russia quit a UN and Türkiye-brokered deal that had given safe passage to Kyiv's exports of grains, oilseeds and vegetables oils via the Black Sea.

A Russian drone strike on a Ukrainian grain exporting port damaged warehouses and set buildings on fire on Monday.

The attack on the Danube River port of Izmail, in Ukraine's southern Odesa region, hit warehouses and production buildings, and debris from drones that were shot down set ablaze several civilian infrastructure buildings, the regional governor said.

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