2023/24 SEASON SUMMARY. Monthly exports in the 2023/24 season were unstable due to the uncertainties in the sea corridors activity in 2023 summer. Corn exports were shifted to the second half of the season (March-August 2024), with record exports in April and June. In the new MY 2024/25, UkrAgroConsult expects a return to the traditional distribution of export volumes by month.
Top importers of Ukrainian corn, MY 2023/24
Export forecast by country, 2024/25 season:
Decline in shipments to some key export destinations will not likely strengthen the bearish trends in the domestic market as Ukraine’s export potential will decline by 30% y/y due to lower 2024 corn production and low carryover stocks.
START OF HARVEST, 2024. Ukraine’s corn harvest started a few weeks early. Only 2% of corn area was harvested, yielding 4.63m t/ha compared to 3 mt/ha at the start of last season. Initial yields are low as harvest started in fields most affected by drought. We expect the yields to improve with the harvest progress in northern regions of Ukraine.
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