In November 2024, Ukraine exported 6.2 million tons of agricultural products, which is 6.5% less than the same indicator of the previous month, but it is still a good monthly export figure, according to the Ukrainian Agribusiness Club (UCAB).
According to the report, in November 2024, Ukraine increased grain exports by 3%, of which corn accounted for 63%, wheat – 33%, and barley – 4%.
Supplies of oilseeds to foreign markets decreased by 32% to 0.8 mln tons (soybeans – 58% and rapeseed – 41%), vegetable oils – by 8% to 541.2 thsd tonnes. tons (sunflower oil – 89%, soybean oil – 9% and rapeseed oil – 2%), cake after extraction of vegetable oils – by 19% to 383.3 thousand tons (sunflower oil – 78%, soybean oil – 12%), other types of agricultural products – by 5% to 398.5 thousand tons.
“The growth is observed only in the grain group, while the rest of the categories show a decline. The biggest decline was in oilseeds, which decreased by one third. The main reason is the slowdown in rapeseed exports, as the lion’s share of it has already been exported,” commented UCAB.
Ukraine has exported 17.978 mln tonnes of grains and pulses since the beginning of 2024-2025 marketing year (MY) as of November 28, of which 3.579 mln tonnes were shipped in November, the press service of the Ministry of Agrarian Policy and Food reported, citing the State Customs Service data.
According to the report, as of November 27, 2023, the total shipments amounted to 12.921 mln tonnes, including 3.681 mln tonnes in November.
The exports of all major crops in 2024-2025 MY are significantly higher than last year. Thus, since the beginning of the current season, Ukraine has exported 8.837 mln tonnes of wheat (5.755 mln tonnes in 2023-2024 MY), 1.856 mln tonnes of barley (870 thsd tonnes), 10.8 thsd tonnes of rye (0.9 thsd tonnes), and 6.976 mln tonnes of corn (6.07 mln tonnes).
The total export of Ukrainian flour since the beginning of the season as of November 28 is estimated at 31.3 thsd tonnes (in 2023-2024 MY – 49.2 thsd tonnes), including 28.6 thsd tonnes of wheat (47.1 thsd tonnes).
The Ukrainian soybean market is showing outstanding results – exports since the beginning of 2024-2025 marketing year (July-June) amounted to 445 thsd tonnes, which creates preconditions for a new record, according to the analytical cooperative “Start”, created within the framework of the All-Ukrainian Agrarian Council.
The analysts emphasized that despite the pace of exports, the Ukrainian market depends on global trends, such as fluctuations in prices for American and Brazilian soybeans.
“Ukrainian soybeans are usually sold at a discount compared to US soybeans, which is about $5-7 per ton. However, now the price of US soybeans is almost equal to the Ukrainian one, which is a favorable signal for domestic exporters. Negative trends in the physical markets, in particular, the fall in the price of soybeans in Chicago, have not yet affected our sales volumes,” the experts said.
They pointed out that seasonal trends indicate a possible increase in soybean prices in December-March, which is traditionally an active period for trade. Prices for soybeans will gradually rise to $420-440 per ton, which is $20-30 more than the current figures, according to Pusk.
“December is always active for the market due to the preparation for the Christmas holidays. Processing companies will increase purchases of soybeans, as most of them have covered their needs only for the first half of December. This creates high demand, which, in turn, will contribute to the price increase,” the experts explained and recommended producers who have the opportunity to postpone sales until February-March to maximize the benefits.
On the domestic market, prices for soybean meal remain low, which limits the ability of processors to set high purchase prices. So far, they are buying soybeans for 17.3-17.5 thousand UAH/t. However, the correlation between the price of soybeans and meal gives us hope for the situation on the Ukrainian market to level off in the coming months, Pusk summarized.
Exports of IT services in 2024 will decline by 4-6% compared to 2023 and may amount to $6.3-6.4 billion, Lviv IT Cluster predicts.
“The decline in IT services exports that began in 2023 continues. Under the optimistic scenario, by the end of 2024, it will decrease by 4% compared to 2023. Under the pessimistic scenario, this figure will reach 6%. We should expect $6.3-6.4 billion. Thus, in 2024, the tech industry will not show growth for the second year in a row compared to last year,” follows a study by IT Research Ukraine conducted by the Lviv IT Cluster.
At the same time, despite the challenges of a full-scale war, the technology industry in Ukraine remains one of the key industries and provides significant foreign exchange earnings. The IT sector is the largest exporter of services in Ukraine, accounting for 38% of total exports of services. In total exports, IT ranks second after food exports, the study says.
According to the data, 2118 IT companies operate in Ukraine. Half of them are service companies, including 47% outsourcing and 3% outstaffing. Another 31% of companies are product companies. The rest have a mixed business model.
45.7% of the IT companies surveyed said they do not plan to open new representative offices in the short term, 17.1% plan to open in Ukraine, and 34.3% abroad. Most want to open a representative office in Poland. In addition, 6% of CEOs plan to close their office in Ukraine.
The number of specialists working in the IT industry in 2024 decreased by 1.6% to 302 thousand. Most of them, 238 thousand people, live and work in Ukraine. The number of Ukrainian specialists abroad also decreased to 62-64 thousand people against 65 thousand in 2023, the study says. The average age of a Ukrainian IT specialist is 31.5 years. The majority of respondents, 68%, do not have children.
The median income of IT professionals in Ukraine, according to IT Research Ukraine 2024, decreased by 1.7% compared to 2023 and amounts to $2590. At the same time, the majority of respondents reported that their expenses for rent, food, and other basic needs have increased.
Most 97% of IT companies donate and implement projects that bring Ukraine closer to victory. 67.6% of surveyed companies have mobilized specialists on their staff. IT companies support their employees serving in the Ukrainian Defense Forces by providing them with job security, fixed salaries, or partial compensation.
Ukraine has exported 17.764 mln tonnes of grains and pulses since the beginning of 2024-2025 marketing year as of November 27, of which 3.365 mln tonnes were shipped this month, the press service of the Ministry of Agrarian Policy and Food reported, citing the data of the State Customs Service of Ukraine. According to the report, as of the same date last year, the total shipments amounted to 12.693 mln tons, including 3.453 mln tons in November.
In terms of crops, since the beginning of the current season, Ukraine has exported 8.73 million tons of wheat (989 thousand tons in November), 1.841 million tons of barley (142 thousand tons), 10.8 thousand tons of rye (0.2 thousand tons), and 6.886 million tons of corn (2.205 million tons).
Total exports of Ukrainian flour since the beginning of the season as of November 27 are estimated at 30.5 thsd tonnes (5 thsd tonnes in November), including 27.8 thsd tonnes of wheat (4.5 thsd tonnes).
Ukraine exported 17.497 mln tonnes of grains and pulses since the beginning of 2024-2025 marketing year (MY) as of November 25, including 3.098 mln tonnes shipped in November, the press service of the Ministry of Agrarian Policy and Food reported, citing the data of the State Customs Service.
According to the report, as of November 27, 2023, the total shipments amounted to 12.693 mln tonnes, including 3.453 mln tonnes in November.
At the same time, in general, in 2024-2025 MY the exports of all major crops are significantly higher than last year. Thus, since the beginning of the current season, Ukraine has exported 8.629 mln tonnes of wheat (5.755 mln tonnes in 2023/24 MY), 1.86 mln tonnes of barley (870 thsd tonnes), 10.8 thsd tonnes of rye (0.9 thsd tonnes), and 6.689 mln tonnes of corn (5.936 mln tonnes).
The total export of Ukrainian flour since the beginning of the season as of November 25 is estimated at 30.1 thsd tonnes (in 2023/24 MY – 48.8 thsd tonnes), including 27.4 thsd tonnes of wheat (46.7 thsd tonnes).
