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Ukraine’s 2021-22 wheat exports rise 17% on year, prices remain firm

Ukraine’s wheat exports rose 17% year on year to 12.9 million mt from the July 1 start of the 2021-22 marketing year through Nov. 8, data released by the country’s agricultural ministry Nov. 9 showed.

The ministry in October set a limit on wheat exports of 25.3 million mt for MY 2021-22. Ukraine shipped 16.6 million mt of wheat in MY 2020-21.

S&P Global Platts Analytics has projected Ukraine will export 22.5 million mt of wheat in MY 2021-22, while the US Department of Agriculture forecast the country’s wheat exports at 24 million mt in its latest World Agricultural Supply and Demand Estimates released Nov. 9.

Ukraine’s wheat exports have gathered pace over the past few weeks as a tax increase on Russia’s wheat exports has led to tightening supply in the market, traders said.

Export prices of Ukrainian wheat have risen more than 7% over the past two weeks as demand firmed, traders said.

The FOB price of Ukrainian 11.5% protein wheat was assessed up 25 cents/mt day on day at $326.75/mt Nov. 9, S&P Global Platts data showed.

Farmers in Ukraine had sown winter wheat across 6.2 million hectares for MY 2022-23 as of Nov. 8, accounting for 94% of the forecast area of 6.7 million hectares, according to data released by the agriculture ministry Nov. 9.

The wheat planting campaign has been completed in Vinnytsia, Volyn, Transcarpathian, Zhytomyr, Ivano-Frankivsk, Poltava, Sumy, Luhansk, Rivne, and Ternopil, Khmelnytsky, Cherkasy and Chernivsti provinces, the ministry said.

In Donetsk, Kyiv, Kirovograd, Mykolayivska, Kherson and Chernihiv provinces, sowing has almost reached the end, the data showed.

Ukraine harvested around 33 million mt of wheat in MY 2021-22, up from 25.4 million mt in MY 2020-21, according to a ministry statement.

Platts Analytics has forecast Ukraine’s wheat production at 31.2 million mt for the current July-June marketing year.

The USDA has pegged Ukraine’s wheat output for the year at 33 million mt, up from 25.4 million mt in MY 2020-21.
Source: Platts

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