Ukraine from the beginning of 2022/2023 marketing year (July-June) to February 13, exported 29.16 million tons of cereals, including 16.72 million tons of corn (57.3% of total supplies), 10.39 million tons of wheat (35.6%) and 1.94 million tons of barley (6.7%).
As reported on the website of the Ministry of Agrarian Policy and Food on Monday, the rate of grain exports since the beginning of this year is by 28.65% lower than during the same period of the previous year, when 40.81 million tons were shipped abroad. At that, as of February 13, the highest average daily export rate for the current MY was achieved, while the previous lowest lag from the last year’s figure was reached on January 9 – “minus” 29.61%.
According to the Ministry, Ukraine exported 16.72 million tons of corn (-3.7% compared to the same period last year), 10.39 million tons of wheat (1.69 times less), 1.94 million tons of barley (2.84 times less), 13.4 thousand tons of rye (11.8 times less) and 89.5 thousand tons of flour (+38.1%) from the beginning of 2022/2023 MY to February 13 this year.
It is specified that Ukraine exported 2.19 million tons of grain since early February, including 1.4 million tons of corn, 653 thousand tons of wheat, 126 thousand tons of barley, 7,100 tons of flour and 1 thousand tons of rye.
As follows from the Ministry data, during the period of February 3-13, an average of 170.7 thousand tons of cereals per day were supplied to foreign markets, whereas during the preceding period of January 27 – February 3 – 209.4 thousand tons of cereals per day, January 20-27 – 121.1 thousand tons per day, January 9-20 – 140 thousand tons per day, and January 2-9 – 121.7 thousand tons per day. Thus, the average daily rate of exports during the reporting period of 3-13 February decreased by 18.5% compared to the previous period January 27-February 3.
As reported, Ukraine exported 48.51 million tons of grain and leguminous crops in 2021/2022 MY, which is 8.4% higher than in the previous MY, despite the full-scale invasion of Russia and the difficulties with the export of agricultural products due to the blockade of Ukrainian sea ports. 18.74 million tons of wheat (12.6% more than in 2020/2021MY), 23.54 million tons of corn (+1.9%), 5.75 million tons of barley (+35.9%), 70.9 thousand tons of flour (-44.1%) were supplied to foreign markets.
Ukraine in 2020/2021 MY exported 44.72 million tons of grain and leguminous crops: 16.64 million tons of wheat, 23.08 million tons of corn, 4.23 million tons of barley, 126.9 thousand tons of flour and 18.4 thousand tons of rye.
In 2019/2020, Ukraine exported 56.72 million tons of grain and leguminous crops.
Dynamics of changes in population of Ukraine from 1991-2022
Source: Open4Business.com.ua and experts.news
Oil prices are falling on Tuesday on a report by Bloomberg that the U.S. plans to sell additional amounts of crude oil from its Strategic Petroleum Reserve (SPR).
According to the agency, the USA intends to sell 26 million barrels of oil from SPR in the period from April to June this year.
April Brent crude futures on London’s ICE Futures exchange stood at $86.01 a barrel by 7:10 a.m. Tuesday, down $0.6 (0.69%) from the previous session’s closing price. Those contracts rose $0.22 (0.3%) to $86.61 a barrel on Monday.
The price of WTI futures for March crude oil at electronic trades of NYMEX fell by $0.87, to $79.27 per barrel by that time. At the end of previous session the contracts value grew by $0.42 (0.5%) up to $80.14 per barrel.
The previous day the oil market grew due to signals of an increase in business activity in China, while Russia announced a cut in its production. Russian Deputy Prime Minister Alexander Novak told reporters on Friday that the country intended to reduce oil production by 500,000 bpd in March.
Traders’ attention on Tuesday will be focused on U.S. inflation data for January, which will allow investors to make new forecasts about future Federal Reserve policy and the prospects of the American economy, Market Watch notes.
Ukraine is increasing the displacement of Grain Initiative ships in order to increase exports and reduce ship downtime in the current conditions of sabotage of ship inspections by the Russian side, the Ministry of Restoration reported.
“In particular, for grain – from 20,000 tonnes to 25,000 tonnes, and for oil – from 6,000 tonnes to 10,000 tonnes. Considering that the average number of inspections of the incoming fleet is only 2.5 ships per day, the increase should be expected in a month and a half,” the ministry said on Facebook on Monday.
It also indicated that the ports of Greater Odesa last week sent 1.1 million tonnes of agricultural products as part of the grain initiative.
“In particular, 54,000 tonnes of wheat were sent to Sri Lanka, 57,000 tonnes to Bangladesh, and 90,000 tonnes are expected in Kenya, Tunisia and Egypt,” the ministry said.
According to the ministry, exports via the grain corridor last week increased by 152,000 tonnes compared to the previous week, but the overall rate of new ships entering for loading continues to decline.
“Last week, the ports of Greater Odesa accepted only 16 ships, the day before last – 25,” the department added.
At the same time, as of February 12, some 145 vessels are already awaiting inspection by the Joint Coordination Centre (JCC), of which 122 are heading to Ukrainian ports for agricultural products.
For comparison, by January 18, 121 ships (28 with agricultural products on board, 93 ships that went to ports for loading) were waiting for the JCC inspection in the Bosphorus, 104 ships on January 13, some 98 on January 10, and 95 on December 26.
“For the third month in a row, Russians have been purposefully sabotaging inspections under various unfounded and sometimes absurd pretexts,” the ministry said.
There are 18 vessels in the ports of Greater Odesa. They load 584,500 tonnes of Ukrainian food. Only one vessel moves along the grain corridor after the inspection.
In total, since August 1, a total of 732 ships left the ports of Greater Odesa, which exported 21 million tonnes of Ukrainian food to the countries of Asia, Europe and Africa. According to the estimates of the Ministry of Restoration, this volume should have amounted to more than 35 million tonnes in the conditions of the normal functioning of the grain initiative.
Ukrainian President Volodymyr Zelensky believes it is important for the country to have meaningful relations with the entire region. Southeast Asia and with every state in the region.
In a video address on Monday, noting a telephone conversation with the president of the Philippines, he said that “Ukrainian diplomacy has a clear task – to reach out to all regions of the world, where our position is not yet sufficiently represented, to make Ukraine and Ukrainian interests understandable to all those states and peoples with whom we do not yet have stable relations.”
“This applies to Asian directions as well as to Africa and Latin America,” he said.
A new video dedicated to the situation in the Ukrainian and world economy at the beginning of 2023 has been published on the YouTube channel of the “Club of Experts” analytical center. The official data concerning the main macroeconomic indicators was presented in the program as well as the forecasts of the leading world analytics for the years 2023-2024 were consolidated.
According to the analysts, the indicators of Ukrainian economy are stable on the whole. Thus to support it in the conditions of war in 2023 the increase of volumes of macrofinancial help from partners will be required. Thus, the founder of the Club of Experts, candidate of economic sciences Maxim Urakin referred to the IMF assessment, according to which Ukraine’s needs for external financing in the current year will be not less than 39.5 billion dollars and can reach 57 billion.
“This forecast is an expression of a high degree of uncertainty on the part of the world’s leading financial institutions with regard to the situation in the Ukrainian economy, and also demonstrates the increasing pressure on it from expenditures,” the expert stressed.
As for the global indicators, the same IMF forecasts that more than a third of the global economy in 2023 will arrive in recession. In turn, Bloomberg notes a record fall in global stock and bond markets in the last months of 2022. At the same time, investors are more optimistic about this year’s prospects.
“The end of the cycle of interest rate hikes, the recovery of the Chinese economy and the end of the war in Ukraine followed by the recovery of our economy could significantly improve the situation both in our country and in the world,” said Maxim Urakin.
For more details on the situation in Ukraine and the world economy, please watch the video on the “Club of Experts” channel by clicking here:
Subscribe to the channel here:
