Ukraine has already gathered 16.6 million tons of new grain and improves its forecasts.

According to the Ministry of Agriculture, 12.5 million tons of wheat, 3.8 million tons of barley, and 300,000 tons of peas were threshed. Harvesting of winter rape also continues – 3.3 million tons of seeds have been threshed. The Ukrainian Grain Association has increased the estimate of 2023’s potential harvest by 7.8 million tons to 76.8 million tons of grain and oilseeds, despite this year’s smaller planted area.

Under these conditions, exports from Ukraine’s new season potentially amount to almost 48 million tons. In the last season, which ended on June 30, exports reached 58 million tons. This year the ministry predicts a 6% lower grain harvest.

However, despite delays in the grain corridor’s operation and Russia’s subsequent withdrawal from the agreement, Ukraine managed to export the entire planned amount from the 2022-2023 marketing year harvest. At the same time, due to the suspension of the grain corridor, Ukraine lost $2B in foreign exchange this year.