Ukraine Agri Exports Plummet by Nearly a Quarter in July

Ukraine's agricultural exports took a hit in July, plummeting by nearly a quarter compared to June. According to the Ukrainian Agribusiness Club, Ukraine exported 3.67 million tons of agricultural products in July, down from 4.77 million tons in June.

The decline in exports was primarily driven by lower shipments of grains, oilseeds, and oilseed meals. However, there were some bright spots, with vegetable oil exports increasing slightly and the arrival of a new barley crop leading to a significant increase in its shipments.

Breaking down the numbers, Ukraine's grain exports totaled nearly 2.668 million tons in July, a decrease of 25.1% from June. Corn accounted for 49% of grain exports, wheat for 39.9%, and barley for 11.1%. Oilseed exports declined by 43.7%, with soybeans making up 71.9% of these shipments.

UCAB analyst Maksym Hopka attributed the decline in exports to lower shipment volumes and reduced operations at the Greater Odesa ports. He also warned that exports may decline by almost another half compared to July, citing a forecast for August that remains unchanged.