In the 2020/2021 marketing year (MY) Ukraine exports 17,5 million tons of wheat and 1 000 tons of rye.

According to Ukrinform, such figures were announced by the press service of the Ministry of Economy after signing the Annex to the grain memorandum on the maximum volume of grain exports in 2020/2021 MY by the Ministry and grain market participants.  

“The Grain Memorandum is a good sample of the ability to negotiate and make balanced decisions. In our common opinion, the export of 17,5 million tons of wheat and 1,000 tons of rye for this marketing year is a benchmark that will preserve both our internal food security and export opportunities. Besides this, taking into account the corona crisis, in the forecast balance we have increased the amount of transitional balances by half a million tons - up to 1,7 million tons, "- the Minister of Economic Development, Trade and Agriculture Ihor Petrashko commented on the signing of the document.

In addition, depending on weather conditions and final data from the State Statistics Service on wheat production, the forecast balances of the grain market may be revised by the signatories of the memorandum in the fourth quarter.

At present according to forecasts, the grain harvest is expected at 72,1 million tons.

As Ukrinform reported, the Ukrainian Grain Association in its July report improved its forecast compared to June one for the 2020/2021 MY harvest from 97,1 million tons to 100 million tons. Ukrainian Grain Association also increased its forecast for grain and oilseed exports in the new marketing year from 58,2 million tons to 61 million tons. In the medium term, Ukrainian Grain Association suggests an increase in grain and oilseeds to 113 million tons, and export under these conditions could reach 75 million tons.

Ukraine is one of the five leading grain exporters; in 2019 our country took second place after the United States in grain exports with a rate of 9,6 billion dollars, surpassing Argentina (9,3 billion dollars) and Russia (7,9 billion dollars).

In 2019/2020 MY the harvest of grain and oilseeds in Ukraine reached 98,4 million tons, and export - 62 million tons.

The grain memorandum has been signed annually since 2011. This document provides the interaction of grain market participants, exchange of information, monitoring of the grain market.

Reference source: UKRINFORM