According to preliminary estimates, Ukraine exported 43.8 MMT of grains in MY 2016-2017 that closed on June 30. This is an all-time high for the country, the Ag Ministry reports.
“Last year’s bumper crop of 66 MMT translated into exportable stocks of 43.8 MMT, an all-time high for Ukraine. The upward trend also manifested itself in record flour exports of 369.4 KMT. This indicates that exporters gradually switch to supplying commodities with higher added value,” noted the Ag Ministry.
Stimulating domestic crushing will help not only increase currency revenue but also offset the risks related to commodity exports, particularly the dependence on world ag product price fluctuation.
This year’s new-crop wheat is expected to be of high quality that will contribute to further expansion of flour exports from the country. (UkrAgroConsult/Business World Magazine)
