Osypov: Ukraine could leave 20% of land unplanted next year due to export problems, losing 12 million tons of crop
Ukraine could reduce its planted area by around 20% next year if export problems through Black Sea ports are not resolved. In that case, grain production could decline by around 12 million tons, Kernel CEO Yevgen Osypov said in an interview with Bloomberg.
According to Osypov, restrictions on the operation of Black Sea ports have significantly intensified over the past two months. Export volumes have fallen to less than 10% of the levels seen at the beginning of the year.
As shipments slow, wheat and corn crops are accumulating inside Ukraine. Some of the grain will have to be stored in grain bags.
“The big question is, what are we going to do during the next planting season in the spring? If there is no solution on exports, I believe Ukraine will cut production and leave around 20% of its land unplanted. That means 12 million tons of food grain will not be produced,” Osipov said.
