Ukrainian agro-exports via grain corridor down by 45% over past week, market in limbo over deal's future - agribusiness club

MOSCOW. July 12 (Interfax) - Exports of Ukrainian agricultural produce via seaports in the Greater Odessa area shrank by 45% to 151,800 tonnes during the week from July 3 through 9 compared to the previous week, Ukrainian media reported with reference to the Ukrainian Agribusiness Club (UCAB).

Four ships were loaded in Odessa ports in this period, compared to six over the previous week, UCAB said. However, as before, they could not undergo mandatory inspections and are unable to head toward their destinations.

"Not a single vessel has undergone an inbound inspection since the end of June. As understood tentatively, the current agreement expires on July 17, 2023. The entire agrarian market is now waiting for the agreement's future to be clarified, as the sowing campaign has begun, making the issue of exports particularly relevant," UCAB said.

Corn accounted for 59%, sunflower meal 15%, and wheat 26% in the structure of Ukrainian agricultural exports last week, it said. About 22,000 tonnes was shipped to Europe (France), 102,000 tonnes to Asia (China and Turkey), and 27,000 tonnes to Africa (Tunisia).

A total of 32.8 million tonnes of agricultural produce was exported over the time of the grain corridor's functioning from August 1, 2022 to July 9, 2023, thus averaging 683,330 tonnes a week.

Russian officials have said repeatedly that the Black Sea Grain Initiative's extension is unfeasible as the Russian terms of the deal have not been honored.