11 November 2022, Friday, 13:07 234

U.S. Department of Agriculture maintains wheat harvest forecast for Ukraine at 20.5 million tons in MY2022/202

Редактор: Roman Vaniyan

The United States Department of Agriculture has maintained its 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 USDA, in the 2022/23 marketing year, Ukraine's indicators for the production and export of wheat and corn remain unchanged. Wheat production - 20.5 million tons, of which exports - 11.0 million tons; corn production - 31.5 million tons, of which exports - 15.5 million tons. Global wheat forecasts for financial year 2022/23 foresee an increase in production, consumption, trade, and ending stocks. World production increased by 1.0 million tons to 782.7 million tons. Production increased in Australia (+1.5 million tons to 34.5 million tons), Kazakhstan (+1.0 million tons to 14 million tons), and Great Britain (+0.8 million tons to 15.4 million tons), the increase in production volume fully compensates for the drop in Argentina (-2 million tons to 15.5 million tons) and the EU (-0.5 million tons to 134.3 million tons)," the report said.

It is noted that the global trade forecast was increased by 0.3 million tons to a record 208.7 million tons, mainly due to increased exports from Australia (+1 million tons to 26 million tons),

At the same time, the projected world export of corn in 2022/23 marketing year is expected to be lower by 0.3 million tons to 182.7 million tons, and this reduction will occur at the expense of South Africa.

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.