In 2024, profitability will increase for all grain and oil crops. This is forecast provides that the situation with security and exports utilizing sea transport will not become more complicated, and the situation on the western borders will stabilize.
At the same time, this year’s yield is expected to decrease by approximately 4-5%. The cost of elevator services is increasing due to increased electricity prices. In addition, there is a possibility of an increase in the cost of renting land by approximately 5%, up to $125 per hectare, in connection with the opening of the land market for legal entities.
Wheat cereals will have the least profitability, while corn and barley will likely remain unprofitable. However, all types of oil crops are expected to become profitable.
Also, in 2024 the profitability of all livestock products is likely to fall as feed and electricity costs will grow faster than the prices of the final product. Unlike crops, most livestock products were profitable throughout 2023.