July 31, 2013

 

Ukraine's grain harvest up till July rises 21%

 


As of July 29, Ukrainian farmers have harvested nearly 27 million tonnes of grain, an on-year rise of 21% on 9 million hectares of land, at an average yield of 2.95 tonnes/hectare.

 

According to Kyiv-based investment bank, Dragon Capital, the volume consists of 19.6 million tonnes of wheat, 6.2 million tonnes of barley and 2.1 million tonnes of rapeseed.

 

The Agriculture Ministry forecasts that 57-59 million tonnes of grain will be harvested this year, up 22-26% over 2012, and the highest volume in a decade, Dragon Capital noted.

 

"We are currently more conservative on the 2013 harvest outlook in view of the very dry weather currently being observed in central and southern Ukraine, and expecting production of 55.1 million tonnes (+26% on-year). At the same time, we believe grain exports in the 2013-14 marketing year could hit 28.6 million tonnes (+19% on-year), above the Agriculture Ministry's forecast, including 17.7 million tonnes of corn (+20% on-year), 8.2 million tonnes of wheat (+20% on-year) and 2.7 million tonnes of barley (+15% on-year)," said the bank.