Economy Ministry raises forecast of grain export in 2020/2021 MY from 45.4 mln to 45.7 mln tonnes

 Exports of grain from Ukraine in the 2020/2021 marketing year (MY) will grow by 300,000 tonnes, to 45.7 million tonnes, including 17.5 million tonnes of wheat and 23.5 million tonnes of corn.

Such data was announced by Deputy Minister for Development of Economy, Trade and Agriculture of Ukraine Taras Vysotsky at a meeting with agro-associations.

According to the ministry, in the current 2020/2021 MY, Ukraine produced almost 65 million tonnes of grain and leguminous crops, while their exports as of March 29 amounted to 34.8 million tonnes (including 14.5 million tonnes of wheat, 15.9 million tonnes of corn and 4.08 million tonnes of barley).

The Ministry of Economy clarified that the memorandum on the coordination of positions between grain market participants for the 2020/2021 MY sets the maximum export volumes at the level of 17.5 million tonnes of wheat and 24 million tonnes of corn.

The ministry noted that the participants in the meeting also proposed deregulation of the import of raw sugar from 2022. This initiative was supported and taken into account by the Ministry of Economy.

"There is a slight decrease in the rate of grain exports. Given this dynamics, we will not exceed the volumes indicated in the memorandum. Therefore, there are no risks regarding the physical availability of wheat and corn on the Ukrainian market," Vysotsky summed up.

Source: www.en.interfax.com.ua