January ag commodities export from Ukraine reduced
Agricultural commodities export from Ukraine in January 2021 stood at USD 3.93 bln, 5.6% or USD 270 mln less YoY.
"The cause of the reduction is clear: lower physical volumes of corn, wheat, soybeans and meal exports," comments Taras Kachka, Deputy Minister of Economic Development, Trade and Agriculture of Ukraine, Trade Representative of Ukraine, Deputy Chairman of the International Grains Council (IGC).
According to his data, the export pace of several groups was lower in January:
|Commodity||Jan. 2020||Jan. 2021||y-o-y|
|corn||USD 741.86 mln||USD 403.5 mln||(45.61%)|
|wheat||USD 178.87 mln||USD 123.6 mln||(30.9%)|
|soybean||USD 112.02 mln||USD 50.71 mln||(50.71%)|
|meal||USD 179.39 mln||USD 118.53 mln||(33.93%)|
The deputy minister market that month-to-month commodities supply decrease is even larger:
- grains by USD 321 mln
- soybean/rapeseed by USD 143 mln (HS Group 12)
- meal by USD 81 mln
"The current year's trends are positive considering the domestic food security and observance of consumption balances," he says.
January 2021 vegetable oil shipment slid by USD 87 mln mth/mth. Although this indicator grew by 12.65% YoY to USD 513 mln in January 2021.
"Other agricultural groups also demonstrated interesting trends. For example, the export of eggs fell to USD 4.18 mln from USD 10.61 mln in January 2020, while export of milk rose slightly YoY to $USD 4.21 mln from USD 3.69 mln. Export of honey practically doubled up to USD 10.59 mln against USD 5.55 mln last year," Taras Kachka adds.
Nitrogen fertilizer exports in January 2021 decreased by USD 10 mln compared to December 2020. However, January exports of fertilizers reached USD 34 mln, 64% higher YoY (USD 20.74 mln).
As of Feb. 1, staple grains export shipment from Ukraine made up 28.78 mln t, 21.3% lower YoY.