February 1, 2005
Ukraine's Jan 1 grain stocks up 70% on year
Ukraine's registered grain stocks amounted to 13.2 million metric tons as of Jan. 1, up 70% on the year, a report by Ukraine's State Statistics Committee shows.
The increase was mainly due to wheat, which at 5.2 million tons, was more than double last year's volume.
Millers and warehouses had grain stocks of 7 million tons, including 3.1 million tons of wheat. Another 6.2 million tons were stored on farms, including 2.1 million tons of wheat.
The rise in grain stocks occurred due to the better harvest in 2004, which yielded about 40 million tons of grain, up from 20.2 million tons in 2003. The increased yield was due to better weather.
The increased stocks are prompting higher wheat exports, which are expected to exceed 3.5 million tons in the 2004-05 marketing year (July-June). Last season, Ukraine was a net importer of wheat.