Ukraine exports 339,000 tonnes of barley in March - analysts

MOSCOW. April 3 (Interfax) - Ukraine exported 339,000 tonnes of barley in March 2024, setting the season's record, as global prices for Ukrainian barley levelled off with corn prices and spurred on the demand, Ukrainian media said, citing a report by the Ukrainian Agri Council's Pusk analytical cooperative society.

Analysts say that Ukraine might export another 200,000 tonnes of barley in April and May each.

"In the feed grain category, prices have formed in favor of barley: corn is $10 per tonne more expensive than barley. This makes Ukrainian barley more competitive and sought after by EU members and Turkey. Trade in barley is mostly conducted at Odessa ports, and the average price is around $145 per tonne. We expect the prices to rise by another $1-2 per tonne this week," they said.

Barley prices have also grown on the domestic market, the analysts said.

"Processing enterprises could buy barley at 4,700-5,000 hryvni per tonne a week ago, while actual CPT prices rose to 5,200-5,400 hryvni per tonne as of April 2," Pusk said.

Ukraine is actively sowing barley, it said.

"The sowing continues, and crops have been sown on almost 292,000 hectares, which is a normal pace. According to the Agrarian Policy Ministry, barley will be sown on around 810,000 hectares. Barley is mostly cultivated in the Odessa and Nikolayev regions. The farther a region is from the port, the lower profitability barley cultivation has," the experts said. Indicative CPT-port prices for the new barley harvest stand at $145-155 per tonne, they said.