Reuters exclusively reported that Ukrainian farmers are not expected to reduce the area of winter wheat they sow for the 2024 harvest despite higher logistics costs due to the wartime export crisis. Ukraine is a major wheat producer and the demise of the Black Sea corridor used to safely export grain during the war spurred speculation that farmers could sow less wheat because of shrinking profit margins due to costlier export routes. However, First Deputy Agriculture Minister Taras Vysotskiy told Reuters on Tuesday that the possible reduction of winter wheat may total only 0.1%.
Ukraine winter wheat sowing seen unchanged despite export crisis
29 August 2023, 4:19 pm 1 minute
Market Impact
Ukraine is a traditional grower of winter wheat, which accounts for at least 95% of the country’s overall wheat output. Traders say an increase in the sowing area of winter crops, especially in winter oilseeds, could mean that farmers sow less spring grain crops, with corn and spring barley most likely to suffer.
Article Tags
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Europe
Countries: Ukraine
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
