September 2, 2011

Ukraine to ship at least 24 million tonnes grain

Ukraine is planning to export at least 24 million tonnes of grain in the 2011/2012 marketing year.

This is the most conservative forecast of world trade in grain, which is likely to be revised upwards to the proportionally growing crop forecasts 2011 (the last estimate - 52 million tonnes).

About a third of all grain declared for export is planned to be sent to international markets by two Ukrainian companies.

Kernel Group is planning to export in 2011/2012 MG 2.5 million tonnes of grain. The company reported it in a statement distributed among investors. The figure is 40% higher than the result of last year (in 2010/2011 MG Kernel Group exported 1.8 million tonnes of cereals). The company also pointed out that the margin for grain is expected to be lower than in 2010/2011 MG.

A trading department of the state-controlled Food and Grain Corporation, KhlibInvestbud, claims one-fifth of total exports of grain from the country – five million tonnes of grain in 2011/2012 MG. This is four times more than last season - the last marketing year the company delivered in frames of foreign economic contracts 1.2 million tonnes of cereals.

Notably, for KhlibInvestbud the plans are coming true so far - in the two months of the season the company has covered one third of all grain exports from the country - about 300,000 tonnes of one million tonnes already exported from Ukraine.

"As of August 30, that is, in the first two months of 2011/2012 marketing year, KhlibInvestbud has provided about 30% of the total exports of grain from Ukraine, which, according to preliminary estimates, has amounted to one million tonnes," the company said.