Philippines buying Ukrainian wheat at a record pace

2018/19 wheat exports from Ukraine are at a three-year low. The country exported 9.4 MMT of wheat during the first five months of the current season (July-November), or 6.4% less than in the same period last marketing year (10 MMT), reports UkrAgroConsult.

Similar to last season, the main destination for Ukrainian wheat is still Indonesia. Exports to this country in the period under review gained 14% against a year earlier.

The Philippines also continues to step up purchases of Ukrainian wheat. In the period under review, the country imported 1.3 MMT of wheat from Ukraine. This was an all-time high and already 19% more than in the whole of last season.

These two major buyers partially offset the drop in Ukrainian exports to destinations such as Egypt, Bangladesh, South Korea, which have been taken over mostly by Russia. However, it should be pointed out that Russian exporters are stepping up competition in the Philippine and Indonesian markets as well.

As a reminder, UkrAgroConsult estimates Ukraine’s wheat export potential by 10% lower compared to the previous season.

More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for weekly market report “Black Sea Grain” by UkrAgroConsult.

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Source: UkrAgroConsult