In the current trading season, Ukraine’s agricultural exports decreased by 27%, and farmers’ annual losses will reach $3B.

From July 1 to December 15, Ukraine exported about 24 million tons of grain, oilseeds, and their processed products, which is nine million tons less than in the corresponding period last year, according to data cited by Oleg Khomenko, general director of the Ukrainian Club of Agrarian Business.

According to the association’s forecast, at the end of the current marketing year, the transitional grain balance in Ukraine will amount to 17.1 million tons if the export volume remains at the current level. At the same time, for the calendar year 2023, the export of agricultural products increased by 7% compared to 2022, to $22.9B.

Khomenko predicts that Ukrainian agricultural businesses will lose $3B this year under an optimistic scenario. As the expert explained, the production of grain and oil crops in Ukraine is currently unprofitable, except for soybeans. And the most significant factor affecting the profitability of the agricultural sector is significantly complicated export logistics.