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Ukraine exports 75% of its grain harvest, PM

Ukraine exports 75% of its grain harvest, PM Photo: Prime Minister of Ukraine, Denys Shmyhal (Vitalii Nosach, RBC-Ukraine)

This year's harvest of cereals and oilseeds in Ukraine will amount to 79 million tons, which is 10% more than last year. During a government meeting, three-quarters of this would be exported, said Prime Minister of Ukraine Denys Shmyhal.

"For domestic needs, we require roughly 25% of the harvested grain, and the rest needs to be exported. This is a resource for farmers, foreign currency revenue for the state, and food for starving countries," he said.

Shmyhal emphasized the importance of the western grain export route.

"We need broad transit routes for food exports. It is vital for the stability of our economy. It is important for the world, as it concerns global food security," emphasized Denys Shmyhal.

As the Prime Minister pointed out, Ukraine is counting on the effectiveness of the proposed verification and control mechanism for Ukrainian agro-exports, transit paths of solidarity from the EU, expanding the capabilities of the Danube ports, and new grain corridors.

Change in forecast

Ukraine's Ministry of Agrarian Policy has once again raised this year's grain and oilseed yield forecast from 76.7 million tons to 79.1 million tons, considering better crop yields.

Specifically, Ukrainian agrarians might harvest approximately 57.5 million tons of cereals and 21.6 million tons of oilseeds this year.

According to preliminary estimates from the Ministry of Agrarian Policy, in 2023, farmers could harvest grains in the following volumes: wheat - 21.7 million tons, barley - 5.7 million tons, and maize - 28.5 million tons.

In its base forecast, the National Bank of Ukraine (NBU) assumes that the grain corridor will not function until the war's end. According to the NBU forecast, Ukrainian agro-exporters can export throughout the entire marketing year - from July to June next year, "all the products intended for export."