June 1, 2012

Ukraine's grain surplus to top 12 million tonnes

As of July 1, 2012, Ukraine's grain surplus will likely go beyond 12 million tonnes, which beats the previous results twofold, said Vladimir Klimenko, President of the Ukrainian Grain Association, on May 29.

He also noted that after the completion of the current marketing year (July 2011 - June 2012) Ukraine will not stop the export trading of grains as it was last year.

In his turn, Nikolai Gorbachev, Vice-President of the Association, confirmed the forecast of grain exports in 2011/2012 MY at 22 million tonnes. In particular, he said that in June Ukraine will export nearly two million tonnes of grains.

In 2011 Ukraine produced 56.7 million tonnes of grains, up 44.3% compared to 2010. The domestic consumption of grains is estimated by experts at the level of 26.7 million tonnes per year.