Grains ending stocks in Ukraine expected 17% up: analysts
Grains ending stocks in Ukraine in the 2020/21 season may reach around 5.7 mln t, 17% higher YoY (2019/20: 4.9 mln t), the APK-Inform consultancy reports.
Wheat carryovers for the season are estimated at 1.5 mln t (+0.8% on 2019/20), barley at 1 mln t (-8%) and corn at 2.4 mln t (+51%).
"The growth in the country's 2020/21 grain reserves is largely driven by an increase in corn ending stocks, supported by a decline in importers' interest in Ukrainian grain amid its high cost, as well as lower corn sales by agricultural producers," analysts comment.
The accumulation of carryovers, coupled with favourable agro-climatic conditions, will put pressure on crop prices in Ukraine in the medium term.
Grains and pulses stocks in Ukraine as of March 1 dropped to 15.88 mln t, 11% or 2 mln t lower YoY (17.88 mln t). Staple grains export shipment from Ukraine as of March 31 reached 35.06 mln t, 23.27% lower YoY.
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