Ukraine's flour export in 2020/21 forecasted no higher than 110 thou. t
In the 2020/21(July 2020-June2021) season, Ukraine delivers not more than 110 thou. t of flour to foreign markets, the head of the Association Millers of Ukraine Rodion Rybchinsky stated at the conference Grain&Maritime Days in Odessa 2021, the APK-Inform consultancy writes.
"As of May 23, Ukrainian flour exports since the start of the season was only 102,000 t. Earlier we announced our forecasts for exports of this product from Ukraine at 120,000 t in the first half of the year, but today we understand that it is a success if the shipment reaches at least 110,000 t," he says.
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Rodion Rybchinsky mentioned that in 2016/17 Ukraine was the 6th largest exporter of flour, selling more than 402,000 t of products on the global market.
"Back in 2014, Ukraine introduced a disparity on VAT refunds for exports: it was set at zero for wheat and 20% for flour products. After that flour shipments from Ukraine started actively growing," he explains.
Flour export shipment from Ukraine as of May 24 reached 110 thou. t.
As a reminder, the Ministry for the Development of Economy, Trade and Agriculture of Ukraine and grain market participants signed the Annex to the Memorandum of Understanding on 17 Aug. setting the limit for wheat export from Ukraine in the 2020/21 season at 17.5 mln t, rye 1 thou. t. Corn export cap in Ukraine was set at 24 mln t for the 2020/21 marketing season.
By 2025 the volume of world flour consumption may increase by about 20 mln t compared to the current level and reach apx. 400 mln t.
In 2020, UKRPROMINVEST-AGRO retained its status of the largest flour producer and exporter from Ukraine.
