December 31, 2011

UkrAgroConsult lowers Ukraine's wheat exports estimate



The 2011/12 projection for wheat exports of Ukraine has been reduced from the previous forecast of 9.7 million tonnes to 7.6 million tonnes, analyst UkrAgroConsult said Friday (Dec 30).


The consultancy said in a report that Ukraine, which harvested 20.6 million tonnes of wheat in clean weight this year, was likely to increase its year ending stocks to about five million tonnes and not 2.9 million tonnes as it had previously expected.


UkrAgroConsult said Ukraine had exported 2.15 million tonnes of wheat in the first five months of the season, which goes from July to June.


The Farm Ministry said this week the former Soviet republic had harvested 22.4 million tonnes of wheat in clean weight in 2011 against 16.8 million tonnes in 2010.


Farm Minister Mykola Prysyazhnyuk said this month that Ukraine could export only six million tonnes of wheat this season because it needed large stocks ahead of a possible fall in the 2012 wheat harvest.


The ministry has said a third of Ukraine's winter grain crops were in poor condition due to a severe drought that hit the country during sowing.


It said poor weather could have killed about two million hectares of winter grain crops, mostly winter wheat, and farms were likely to reseed them in spring with corn or other spring crops.

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