May 17, 2012

Ukraine's 2012-13 grain stocks to reach 12 million tonnes

Due to a slow pace of exports, Ukraine's grain stocks could reach a record 12 million tonnes at the start of the new 2012-13 season, Ukrainian Agrarian Confederation (UAC) grain lobby said on Wednesday (May 16).

Ukraine had 5.1 million tonnes of grain in stocks as of July 1, 2011.

UAC quoted its director Serhiy Stoyanov as saying that Ukraine had exported 19.5 million tonnes of grain since the start of the 2011-12 marketing year (July 2011 - June 2012), including 950,000 tonnes in May 1-15.

Ukraine's Farm Minister Mykola Prysayzhnyuk said this week exports had totalled 18.5 million tonnes in July-May.

The former Soviet republic harvested 56.7 million tonnes of grain in 2011 but tough competition with Russia has reduced volume of Ukrainian exports in the first months of this season.

As Ukrainian News earlier reported, the Ministry of Agrarian Policy and Food Supplies has revised forecast of grain export downward from 23.5 million to 22 million tonnes in the 2011-12 marketing year (July 2011-June 2012).

Ukraine exported 2.06 million tonnes of grain, mostly corn, in April against 2.7 million tonnes in March, according to UkrAgroConsult consultancy. According to the data provided by Ukraine's State Statistics Service, grain stocks totalled 13.7 million tonnes as of May 1, 65% more than at the same date in 2011.

The service said stocks of large- and medium-sized agriculture companies included 6.1 million tonnes of wheat, 1.3 million tonnes of barley and 5.6 million tonnes of corn.

The Agrarian Confederation says nearly 950,000 tonnes of cereal crops have been exported as of May 15, of this about 700,000 tonnes of corn, 130,000 tonnes of barley and 120,000 tonnes of wheat.

The Agrarian Policy Ministry predicts total grain export volume in marketing year 2012-13 at 20 million or 25 million tonnes.