Agri Commodities Uncategorized

Ukraine’s Grain Exports Stand At 5.5 million metric tonnes In January

Ukraine’s Grain Exports Stand At 5.5 million metric tonnes In January

After covid-19 disrupted lives and hampered trade and commerce for good couple of years, people had high hopes from the year 2022. With the waning impact of Covid, wide scale rollout of vaccines and mass immunization, people expected the year to support recovery in every aspect. However, the year proved to be a disappointment for everyone in general and for people related with agro export and import business in particular.

With the start of the year, started the Russian invasion of Ukraine and the war between the two biggest grain producers and exporters of the world, unfolded scenes that no one anticipated. The war between Russia and Ukraine led to disruptions in the supply chain and as a result many countries were pushed to the brink of a food crisis. To worsen things up, adverse weather conditions like erratic monsoon in some countries like India and floods in other countries like Pakistan and Bangladesh, further limited supplies of food grains.

However, with the signing of the Black Sea Grain Initiative, the world breathed a sigh of relief. The UN brokered deal between Russia and Ukraine for safe passage of grains gave hopes to many people around the world, especially in poor and developing countries. They expected free and unhindered supply of food grains would bring to end all their worries but alas that was too good to be true.

Even after the signing of the deal, tensions continued to grow between Russia and Ukraine, repercussions of which easily reflected on the flow of food grains. Delay in inspections and obstruction of passage of outbound vessels amid heavy shelling remained some of the reasons why Ukraine’s grain exports couldn’t realize its true potential.

Exports Of Agro-Commodities In January Witnesses A 19.11% Drop: Ukraine’s Agriculture Ministry

Ever since the war between Russia and Ukraine began on 24th of February, 2022, Ukraine’s exports of food and agro-commodities have been fluctuating. This remained true even after the signing of Black Sea Grain Initiative.

Ukraine’s Agriculture Ministry on 5th of February stated that Ukraine’s grain exports for the month of January stood at 5.5 million metric tonnes, 1.3 million metric tonnes less in comparison to the last month.

The ministry attributed this decline in volume of food grains exports to delay in inspections and obstruction of passage of outbound vessels by Russia.

On another note, while the exports of all food grains and oil-based crops decreased in general, data suggests that corn exports fell by 700,000 metric tonnes and wheat by 250,000 metric tonnes in January 2023.

Ukraine’s ports through which it usually ships food grains remained blocked for over five months since the full scale invasion of Ukraine began on 24th of February 2022 and the shipments started only after the signing of the Black Sea Grain Initiative.

According to Ukraine’s Agriculture Ministry, the country exported 15.4 million metric tons of corn and 9.7 million metric tons of wheat from July to January.

The Bottom Line

The war between Russia and Ukraine has been hampering the latter’s agro-exports and the same holds true even after the signing of the Black Sea Grain Deal. In January as well, Ukraine’s agro-exports stood at 5.5 million metric tonnes, 1.3 million metric tonnes less than the last month.

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