Analyst increases Ukraine 2022 grain forecast
Ukraine could harvest 52.4 mln tonnes of grain in 2022
23 June 2022
1 minute read
By: Analyst APK-Inform raised its forecasts on Thursday for Ukraine's 2022/23 grain crop and exports because of a better-than-expected corn harvest, reported Reuters.
The consultancy said in a statement that Ukraine could harvest 52.4 million tonnes of grain in 2022, including almost 18.2 million tonnes of wheat and 27.7 million tonnes of corn.
APK-Inform said 2022/23 exports could also rise to 40.6 million tonnes versus the previous outlook of 39.4 million tonnes.
Ukraine, a major global grain grower and exporter, harvested a record 86 million tonnes of grain in 2021. It included 42.1 million tonnes of corn and 32.2 million tonnes of wheat.
The Ukrainian government said this year that the harvest could fall to about 65 million tonnes of grain and oilseeds from 106 million tonnes in 2021 due to the Russian invasion.
Farmers have reduced the sowing area by around 25% due to hostilities in some regions and the grain production could reach 48 million to 50 million tonnes, with exports seen at 30 million tonnes in the 2022/23 season, which runs from July to June.
The fall in production and in exports has stoked fears of a global food crisis and the war, together with Western sanctions against Russia, have sent the price of grain, cooking oil, fertiliser and energy soaring.
