27 Dec 2022 14:11

Ukraine's revenues from agricultural exports down 16% to $23.3 bln in 2022 - association

MOSCOW. Dec 27 (Interfax) - Ukraine's revenues from exports of agricultural produce in 2022 should amount to about $23.3 billion, which is 16% less than in 2021, Ukrainian media reported citing the Ukrainian Agribusiness Club (UCAB) as saying in a statement on its website.

In particular, Ukraine's agricultural produce exports amounted to $3.1 billion in January, $2.5 billion in February, $0.8 billion in March, $0.9 billion in April, $1.2 billion in May, $1.5 billion in June, $1.4 billion in July, $1.9 billion in August, $2.6 billion in September, $2.5 billion in October, $2.6 billion in November, and $2.3 billion in December, UCAB said.

Ukraine significantly increased export shipments at the start of 2022 amid growing geopolitical risks, which helped it avoid an even steeper decline in exports year-on-year, UCAB said.

Export revenues dropped the most in March and April, after which they were gradually growing up to the end of 2022 owing to the arrangement of alternative logistical routes and the launch of the Grain Corridor, it said.

Ukraine's staple agricultural exports, such as corn, sunflower oil, wheat, rapeseed, and sunflower seeds, made the most significant contribution to the 2022 export revenues. The processing of sunflower seeds declined due to the blockage of sea routes in 2022, which resulted in increasing their exports, UCAB said.

Agricultural produce accounts for a significant share in Ukraine's export revenues. In particular, it reached 68% of Ukraine's exports in November 2022.

UCAB said Ukraine shipped 7.2 million tonnes of agricultural produce in November, 6.9 million tonnes in October and September each, 4.6 million tonnes in August, 3 million tonnes in July, and 2.7 million tonnes in June.