Ukrainian grains export digest March 2018

6 April 2018

In March Ukrainian grains export made 3.6M tons, which has been higher than in February (3.1M tons), but much lower y-o-y (in March17 grains export was at close to record 4.4M tons).

In money terms grains export in reporting month amounted to $604M (vs. $689M in March 2017). We specially note that significant growth of grains export prices on Ukrainian market during latest months led to increase of average export prices: average corn price in March increased m-o-m by $11/t, wheat by $5/t. Also grains prices are by $8-10/t higher y-o-y.

Along with it we also note current market uncertainty related to trade war between USA and China.

As for different crops export in March looked as follows: wheat 1M tons (flat y-o-y), corn 2.5M tons (3.1M tons), barley 110k tons.

In total during first nine months of new season (starting from July) Ukraine exported 30.6M tons of grains (a year ago 33.8M 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.

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