Grain and oilseeds harvest forecast reduced to 71.8 mln tons due to heat wave in July - Association

The Ukrainian Grain Association reported that it has lowered its 2024 harvest forecast to 71.8 million tons of grains and oilseeds due to hot and dry weather in Ukraine in July, UNN reports.

Details

"The Ukrainian Grain Association has again lowered its estimate of the potential harvest in 2024 compared to the previous forecast - by 2.8 million tons to 71.8 million tons of grains and oilseeds," the report says.

It is noted that in 2023, according to the UGA, the harvest amounted to 82.8 million tons of grains and oilseeds.

"Another decrease in the harvest forecast for the new season was caused by the hot and dry weather in Ukraine in July this year, which had a negative impact on the potential yield of late grains and oilseeds," the report said.

Under such conditions, exports in the new season 2024/2025, according to the UGA forecast, will amount to 41 million tons, which is 2.5 million tons less than the previous forecast. 

Last season, which ended on June 30, according to the UGA, exports of grains and oilseeds totaled 57.5 million tons of grains and oilseeds.

"Thus, the drop in exports compared to last season could be more than 16 million tons," the UGA noted.

Ukraine has already harvested more than 22 million tons of new crops26.07.24, 15:51 • [views_28397]