14 October 2022, Friday, 10:19 253

U.S. Department of Agriculture retains wheat harvest forecast in Ukraine at 20.5 million tons in MY2022/2023

Редактор: Roman Vaniyan

The U.S. Department of Agriculture retained the wheat harvest forecast for Ukraine at the level of 20.5 million tons in the 2022/2023 marketing year (July 2022 - June 2023).

This follows from a statement by the Ukrainian Agribusiness Club association, the Ukrainian News agency reports.

"According to the updated forecasts of the U.S. Department of Agriculture, in 2022/2023, Ukraine's wheat production and export indicators remain unchanged: 20.5 million tons and 11 million tons, respectively. As for corn, Ukraine's production indicators remain stable - 31.5 million tons, and exports increased by 2.5 million tons to 15.5 million tons," the report said.

According to the report, the updated global wheat forecast for MY2022/23 envisages a reduction in production, consumption, trade and ending stocks.

"It is expected that the world wheat production will decrease by 2.2 million tons to 781.7 million tons. The reduction will take place at the expense of the USA (-3.6 million tons to 44.9 million tons) and Argentina (-1.5 million tons to 17, 5 million tons). This drop will be partly offset by the increase in the production forecast in the EU (+2.7 million tons to 134.8 million tons). However, the forecast for world wheat production remains at a record level. The forecast for global consumption has decreased by 0.9 million tons to 790.2 million tons," the report said.

At the same time, forecasted wheat stocks at the end of the MY2022/2023 decrease by 1.0 million tons to 267.5 million tons, mainly due to the reduction for the USA.

"The forecast of world corn production is expected at the level of 1,168.7 million tons, which is 3.9 million tons lower than the forecast indicator of the previous month. At the same time, a reduction in corn production in the USA is forecast (-1.2 to 353.0 million tons), the EU (-2.6 million tons to 56.2 million tons). In the EU, a reduction in production is observed in Romania, Bulgaria, Hungary and France. As for the corn export forecast, a decrease of 0.5 million tons to 183 million tons is expected. Export of corn increased for Ukraine (+2.5 million t to 15.5 million t) and India, but decreased for the USA (-3.2 million t to 54.6 million t) and Serbia," the report said.

According to the report, the projected world stocks of corn amounted to 301.2 million tons, while they decreased by 3.3 million tons.

As the Ukrainian News agency earlier reported, the Ukrainian Grain Association lowered the current forecast for the harvest of grain and oil crops this year by 7.1%, or 4.9 million tons, to 64.5 million tons compared to the July forecast.

The Ministry of Agrarian Policy and Food maintains the forecast for the harvest of grain and oil crops at the level of 65-67 million tons in 2022.

In 2021, farmers harvested 106 million tons of grain, leguminous and oil crops, which is the largest indicator in the entire history of independent Ukraine.

More than 84 million tons of cereals and legumes were harvested, 22.6 million tons of oil crops.