April 12, 2013

USDA raises estimate of Ukraine's grain and corn exports

The USDA has raised its estimate of Ukraine's grain and corn exports in the current marketing year, compared to half a million tonnes (per type of grain crops) in its March forecast.

According to the department's report, Ukraine may export seven million tonnes of Ukrainian wheat and 13.5 million tonnes of corn. Total grain supplies are forecast at 22.7 million tonnes.

According to the Agrarian Policy and Food Ministry, since the start of the current marketing year, Ukraine has exported 19.73 million tonnes of grain - a rise of 24.6% over-year. The government has said it may introduce limitations on grain exports and cap the maximum amounts of grain exports.

Ukraine has almost exhausted its wheat export potential, the ministry warned. Last year, the country harvested about 46.2 million tonnes of grain - ten and a half million tonnes less than 2011.