Ukraine’s monthly seaborne farm exports seen 20% down

Ukraine’s agricultural maritime exports in March are expected to fall by 20% from February, Spike Brokers said on Wednesday (March 13).

The brokerage, which tracks and publishes export statistics, gave no exact volumes for food exports in March, though the agriculture ministry said on Wednesday (March 13) that 2.2 million metric tons of grain have been shipped so far this month.

Ukraine exported 2.4 million tons of grain over the Feb. 1-14 period, the government data showed.

“The pace of maritime exports is slowing in March compared to February. According to current trends, total exports in March may be up to 20% lower than in February,” Spike Brokers said.

Grain accounts for the majority of Ukraine’s agricultural exports, 95% of which are exported from Black Sea ports and Danube river ports.

Spike Brokers also said that Ukrainian railway exports across western borders had dropped significantly to an average daily rate of 299 wagons, down from the 374 average in February.

“This is the lowest figure since the beginning of the war,” it said.

The brokerage noted that saturation of the European market with last year’s grain stocks prevented Ukrainian products from coming to Europe in the next five months.

Spike Brokers said that exports by road had also decreased, dropping to 132,000 tons over March 1-11 from 172,000 tons for the same period in February. It gave no reason for the decline.

Source: Nasdaq

Click here to read the original report: https://www.nasdaq.com/articles/ukraines-monthly-seaborne-farm-exports-seen-20-down

Sharing is caring!