Ukraine reduces agri-exports by 29% in July - UCAB

According to Ukrinform, Ukrainian Agribusiness Club (UCAB) reported this.

It is noted that not all products have physically crossed the border. A significant number of vehicles are still queuing to leave.

UCAB adds that the reason for the reduction in volumes is primarily the suspension of the grain corridor on July 18, as well as its low activity even before the expiration. In July 2023, 292,000 tonnes were exported through this channel. Russian shelling of the port infrastructure of the Danube River ports also had a negative impact on exports.

According to UCAB, Ukraine exported 2.3 million tonnes of grain last month, down 40% from June of this year. Corn accounted for 51% of grain exports, wheat, 36%, and barley, 13%.

Exports of oilseeds from Ukraine in July increased by 37% compared to June to 330,000 tonnes (the share of rapeseed in the export structure was 73%, soybeans, 23%, and sunflower seeds, 3%). Ukraine also increased exports of vegetable oils to 549,400 tonnes, up 7% compared to May. The share of sunflower oil in the structure of oil exports amounted to 92%, rapeseed oil, 4%, and soybean oil, 4%.

In July, Ukraine reduced exports of press cake by 12% after the extraction of vegetable oils to 320,700 tonnes (the share of sunflower press cake was 91% and soybean press cake was 9%).

As Ukrinform reported, the agreement on the extension of the Initiative for the Safe Transportation of Agricultural Products through the Black Sea, signed by Ukraine, the United Nations, and Türkiye in July 2022, expired on July 18, 2023. A similar agreement was signed by the UN, Türkiye, and Russia.

On July 17, 2023, the Russian side sent its objections to Türkiye, Ukraine, and the UN regarding the grain deal and de facto terminated it.