Wheat production in Ukraine will decline sharply this year. This forecast was given by the United States Department of Agriculture.
Wheat production in Ukraine is projected to decrease by 21% for the 2023/2024 marketing year, the agency said in a report.
It is assumed that Ukraine will be able to export 10 million tons of wheat compared to 15 million tons in the current 2022/23 year, corn exports will be 16.5 million tons compared to 25.5 million tons.
The USDA explains that the reason for the decrease in volumes will be a smaller crop and a reduction in export stocks.
At the same time, the Department improved the estimate of wheat exports for this year by 0.5 million tons - up to 15 million tons, explaining this by the better-than-expected work of the "grain corridor" and "solidarity lines."
However, the USDA expects production to fall by 4.4 million tons to 16.5 million tons compared to last year. The collection of other grains will decline to 28.67 million tons from 34.06 million tons last year and 53.51 in 2021/2022 last year.
Thus, 22 million tons of corn will be collected compared to 27 million tons last year, barley - 5.9 million tons versus 6.18 million tons, oats - 350,000 tons versus 390,000 tons and 478,000 tons.
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