Ukraine's grain harvest in 2024 is expected to decline to 74.6 million tons due to a reduction in sown areas and dry weather conditions in some regions. This estimate was given by the Ukrainian Grain Association, UNN reports.
Details
The Ukrainian Grain Association has slightly lowered its estimate of the potential harvest in 2024 compared to the previous forecast - by 1.5 million tons to 74.6 million tons of grains and oilseeds.
As noted, "the potential decline in the harvest in the new season is caused by both a reduction in sown areas (mainly under grain crops due to unfavorable price conditions on the world market and relatively expensive export logistics) and a somewhat dry period in May this year in a number of regions in the East and South of the country.
"Under such conditions, the exports in the new season 2024/2025 will amount to 43.5 mln tons. In the current season, which is coming to an end, according to the UGA, the export of grains and oilseeds may reach 53.2 mln tonnes of grains and oilseeds," the association said.
In particular, it is stated that "expectations for the corn harvest in the new season are deteriorating due to a potential reduction in corn acreage and a dry period in a number of regions.
Addendum
The current forecast, as noted in the association, is based on average weather conditions over the past 5 years, so the improvement or deterioration of these conditions in spring and summer may make adjustments.
In 2023, according to the UGA, the harvest amounted to 82.8 million tons of grains and oilseeds.