💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Ukraine's grain exports accelerate in Sept following grain deal -ministry

Published 09/14/2022, 05:42 AM
Updated 09/14/2022, 05:46 AM
© Reuters. FILE PHOTO: Wheat grain is seen on the MV Brave Commander vessel from Yuzhny Port in Ukraine to the drought-stricken Horn of Africa as it docks at port of Djibouti in Djibouti August 30, 2022. Hugh Rutherford/World Food Programme/Handout via REUTERS

KYIV (Reuters) - The pace of grain exports from Ukraine has risen so far in September but volumes are still well below last season's levels, agriculture ministry data showed on Wednesday.

Ukraine's grain exports have slumped since the start of the war because its Black Sea ports, a key route for shipments, were shut, driving up global food prices and prompting fears of shortages in Africa and the Middle East.

Three Black Sea ports were unblocked at the end of July under a deal between Moscow and Kyiv that was brokered by the United Nations and Turkey.

The ministry's data showed Ukraine exported 1.5 million tonnes of grain in the first 13 days of September, 34% less than the 2.3 million tonnes exported in the same period a year ago. The exports were 40% less in the first week of September.

The ministry gave no reason for the increase, but analysts say the reopened seaports have helped to boost the shipments from Ukraine.

Ukraine's infrastructure ministry said on Wednesday 134 cargo vessels with 3.1 million tonnes of various agricultural goods on board left Ukrainian ports under the grain deal.

The agriculture ministry data showed that Ukraine's grain exports totalled 5.8 million tonnes so far in the 2022/23 July-June season, versus 10.9 million tonnes in the same period in 2021/22.

© Reuters. FILE PHOTO: Wheat grain is seen on the MV Brave Commander vessel from Yuzhny Port in Ukraine to the drought-stricken Horn of Africa as it docks at port of Djibouti in Djibouti August 30, 2022. Hugh Rutherford/World Food Programme/Handout via REUTERS

The data showed that exports so far in the July 2022 to June 2023 season included 3.4 million tonnes of corn, 1.83 million tonnes of wheat and 525,000 tonnes of barley.

The government has said Ukraine could harvest at least 50 million tonnes of grain this year, compared with a record 86 million tonnes in 2021, because of the loss of land to Russian forces and lower grain yields.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.