Ukrainian grains export digest February 2018

16 March 2018

In February Ukrainian grains export made 3.1M tons, which has been approximately at the level of export in January and higher than in February 2017 (2.85M tons).

In money terms grains export in reporting month amounted to USD 500M (vs. USD 441M in February 2017). We specially note significant growth of grains export prices on Ukrainian market during several latest months (starting from December). CME corn quotations during last three months increased by almost 15%, which (along with growth of Ukrainian premiums) led to surge of local CPT prices from USD 150-155//t in the beginning of January up to more than USD 180/t.

As for different crops export in February looked as follows: wheat 1.04M tons (840k tons a year ago), corn 2.03M tons (1.8M tons), while barley export was minimal.

In total during first eight months of new season (starting from July) Ukraine exported 27M tons of grains (a year ago 29.4M tons). It is expected that total Ukrainian grains export will decrease from 44M tons in MY2016/17 to 40-41M tons in MY2017/18. Main reason decline of corn harvest from 28M tons in Y2016 to slightly more than 24M tons (according to official data) in Y2017.

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