In 2022/23, Ukrainian exporters reduced the supply of wheat and barley to foreign markets, and increased the supply of corn.
So, from the beginning of the season to May inclusive, Ukraine had the following results:
wheat: 15.5 million tons (-17% compared to the same period last year);
barley: 2.65 million tons (-54%);
corn: 24.1 million tons (+14%).
Due to logistical constraints, barley export was stable in the second half of the season. Monthly exports were constantly in the range of 180-230 thousand tons. Although China has increased the volume of imports of Ukrainian barley in the last few months, it is still behind Türkiye and EU countries.
Corn remains the main export product of the Ukrainian agricultural sector
China was able to take first place among the main buyers of Ukrainian corn. But due to the unstable work of the “Grain Corridor”, Europe still remains the main destination. Although a significant part of the corn sent to Romania is transhipped in the port of Constanta to larger vessels and goes to other more distant countries (Africa and Asia).
As of June 27, 26 million tons of Ukrainian corn went abroad since the beginning of the season. Although with the beginning of the new early grain season, it is expected that wheat and barley will somewhat displace corn in the overall structure of Ukrainian grain exports.
Prices for Ukrainian corn in the direction of the Danube ports continued their gradual growth. Compared to last week, corn prices have increased by 2-4 $/t and currently stand at 172-175 $/t CPT ports. At the same time, in the direction of deep-sea ports, activity remains very limited due to Russia’s sabotage of the grain corridor and growing market confidence in its non-continuation.