Wheat Prices in Ukraine Continued Increasing Trend

Wheat Prices in Ukraine Continued Increasing Trend

Mintec Global
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Export Purchasing Prices in Ukraine, Following World Prices, Increased Again This Week

Feed wheat price increased by 500-600 UAH/t to 7800-7900 UAH/t or 175-178 USD/t. Milling wheat increased by 400-500 UAH/t to 8300 -8500 UAH/t or 190-194 USD/t with delivery to Black Sea ports. Ukrainian market prices received good support from a sharp increase in prices for European wheat. It reached 270-280 USD/t with delivery to buyers, which is equivalent to 220-230 USD/t FOB – Ukrainian Black Sea ports.

High export prices and forecasts of a reduced harvest keep the prices of new crop wheat at a high level. But it is worth considering the significant reserves in the Russian Federation and Kazakhstan, as well as the decrease in global demand.

In 2023/24, Ukraine exported 16.41 million tons of wheat (which is 9.6% more than last year). In particular, for May 1-13 – 634 thousand tons (582 thousand tons for this period in 2023). In the May USDA report, the forecast for wheat exports from Ukraine was left at 17.5 million tons. At the same time, for season 2024/25 , the export forecast for Ukraine was reduced to 14 million tons.

We should remind that last year, based on the data of the report and against the background of the delay in sowing, wheat prices also rose sharply. But in the second half of the season they decreased due to low export rates and buyer demand.