Business news from Ukraine

Business news from Ukraine

Heat will prevent harvesting record corn and soybeans – Vysotsky

15 July , 2024  

The heatwave in Ukraine will not have a major impact on the harvest of early crops, but we can no longer count on high yields of late oilseeds, including corn and soybeans, said Taras Vysotsky, acting Minister of Agrarian Policy and Food, during the Unified National Telethon.
He reminded that there are two types of crops grown in Ukraine – early and late. The harvest of early crops is already underway. We are talking about wheat and barley, as well as oats, peas, rye, and rapeseed.
“These crops are also subject to the heat effect, but it is not critical. They are even favorable for harvesting,” the acting minister said.
According to him, the average yield of early grain crops is 37 centners per hectare. However, it will grow as the harvest continues in the southern and central regions. In particular, Odesa, Mykolaiv, Kirovohrad, and Dnipro regions have already harvested more than 1 million tons each. Next, the western and northern regions will start harvesting, where yields will be higher.
As of today, the average yield of early crops is expected to be around 45-48 cwt/ha, Vysotsky emphasized.
“If we look at the later crops, which are primarily corn, sunflower and soybeans, there may be a negative effect of the heat, as it is the peak of flowering, pollination and growth of these crops. It all depends on the weather in the coming weeks. But as of today (it can be stated – IF-U), the current heat will not allow us to collect record figures for corn and sunflower,” said the acting Minister.
Vysotsky said that the production of early grains is expected to reach 27 million tons. The domestic consumption of this group of crops is about 6-8-9 million tons, which is three times higher than the domestic demand. Therefore, there will be no grain shortage in the country, and no sharp price fluctuations are expected.
At the same time, he said, the situation may change in the fall. In August, after the early grain harvest is completed, the situation with other crops will become clear.
“As of today, the price change is expected to be more at the level of inflation or devaluation, because these (crops – IF-U) are export-oriented goods. They are also tied to the hryvnia exchange rate. No sharp price changes are expected based on this levy (of early grain crops – IF-U),” the acting minister stated. He added: “The final forecast for the crop harvest will be made in the second half of August.”

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