Resulting from its focus on trade with the EU, Ukraine has lost its wheat markets in Asia and Africa.

It has practically lost these markets while concentrating on exporting its products to Europe, writes Latifundist, referring to Ukrainian traders.

“We have lost 70% of the Egyptian market. All Ukrainian exporters have reoriented to Europe. We have lost not only the moment when it was possible to profitably sell to Egypt but also the trust of the Egyptian buyer,” market participants said.

It is noted that in Tunisia, 75% of imported wheat is Russian, another portion is French, and almost none is Ukrainian. Additionally, positions have been lost in the Sudanese and Ethiopian markets. In many African countries, particularly Kenya and Nigeria, wheat with a high protein content (12.5%) is in high demand, which is mainly lacking in Ukrainian wheat.

Furthermore, traders discussed difficulties in the Asian market, specifically in Bangladesh and Indonesia, where Russian competitors are also attempting to push others out by lowering prices. Due to restrictions from the EU, Ukrainian exporters will have to lower prices and restructure logistics in the future to stay competitive in these markets.