NBU worsens harvest forecast of grains in Ukraine to 57.9 mln tonnes, oilseeds to 21 mln tonnes

MOSCOW. Aug 1 (Interfax) - The National Bank of Ukraine (NBU) has downgraded the forecast of the harvest of grains in 2025 from 61.7 million tonnes to 57.9 million tonnes and oilseeds from 22 million tonnes to 21 million tonnes, Ukrainian media outlets said.

"Prolonged cold spells in the second quarter delayed the ripening of certain agricultural crops, affected their yield and worsened the expectations regarding this year's harvest," media outlets quoted the NBU Inflation Report published on its website as saying.

The NBU also downgraded its evaluation of the harvest in the coming years, which it includes in its scenarios, namely, the harvest of grains in 2026 was reduced from 62.3 million tonnes to 59.6 million tonnes and oilseeds from 23 million tonnes to 22 million tonnes and in 2027, grains from 64.9 million tonnes to 60.4 million tonnes and oilseeds from 23.5 million tonnes to 22.8 million tonnes, the report said.

Last year, the grain harvest in Ukraine declined to 56.2 million tonnes from 59.8 million tonnes recorded in 2023, whereas the oilseed harvest declined to 20 million tonnes from 21.7 million tonnes, the NBU said.