Ukraine exports 7.7 mln tonnes of agricultural products in Jan 2024

MOSCOW. Feb 2 (Interfax) - Ukraine exported 7.7 million tonnes of agricultural products in January 2024, just 0.3% less than a year ago, and some of the exports are waiting to cross the border, Ukrainian media said, citing a statement by the Ukrainian Agribusiness Club (UCAB).

According to UCAB, grain prevailed in the structure of Ukrainian agricultural exports in January 2024, with 5.3 million tonnes supplied to foreign markets, down 1% from the previous month. Corn accounted for 63% of supplies, wheat for 30%, and barley for 6%.

Ukraine also exported 765,000 tonnes of oilseeds, down 1% from December figures. At the same time, rapeseed supplies accounted for 52% of oilseed exports, soybeans for 40%, and sunflower seeds for 7%.

The exports included 664,500 tonnes of vegetable oil, down 6% from the month before. In the structure of such exports, the share of sunflower oil accounted for 92%, soybean oil for 5%, and rapeseed oil for 3%.

Ukraine increased cake exports by 20% to 591,100 tonnes, of which 92% were sunflower cake and 8% soybean cake, in January 2024.

Exports of other types of agro-industrial products decreased by 2% to 391,600 tonnes in January, compared to December. UCAB analysts attributed the increase in rapeseed exports compared to other oilseeds to the main trends in January exports.

Ukraine usually managed to finalize the exports by the New Year. This year it still has products to export, the experts said.

Analysts explained the increase in sunflower cake exports by the beginning of exports to China through the maritime corridor unilaterally proclaimed by Kiev.

The dynamics of exports allows Ukraine to gradually reduce the balance of agricultural exports and to provide farmers with financial resources for further operations. It is crucial to maintain or even increase export volumes, as food security of both Ukraine and many other countries depends on the functioning of the Ukrainian agricultural sector, UCAB said.