Ports “Chernomorsk” and “Pivdenniy” within the framework of “grain initiative” on Monday sent 150 thousand tons of agricultural products by three vessels to Asian countries, the Ministry of Agriculture said on Monday.
“In particular, the bulk carrier ASL Ileana with 54,600 tons of wheat for Bangladesh,” the ministry pointed out.
The ministry said that Bangladesh remains a key consumer of Ukrainian wheat: since the beginning of the “grain initiative” the country has received more than 710 thousand tons of wheat from Ukraine.
“These volumes could have been higher if the Russians had not purposefully slowed down the inspection of ships in Turkey,” the ministry stressed.
According to the Ministry, there are an average of six inspections per day for both entry and exit ports, or half of the approved plan. In the Bosphorus, 94 ships are waiting for their turn to be inspected by the Joint Coordination Center (JCC).
A total of 848 vessels have left the ports of Greater Odessa since August 1, exporting 25.9 million tons of Ukrainian food to Asia, Europe and Africa.
“The Grain Deal” was concluded in Istanbul on July 22, 2022. The UN, Russia, Turkey and Ukraine signed two documents – on the creation of a corridor for the export of grain from three Ukrainian ports (Chornomorsk, Odessa and Pivdennyy) and on the removal of barriers to the export of Russian food and fertilizers for a period of 120 days with the possibility of extension.
On March 18, when the initiative was set to expire again, the UN said it would be extended. It did not specify any timeframe, but the Turkish press, citing claims by the Ukrainian side, reported that it was “an extension of 120 days,” while the Russian side insisted that the initiative had been extended for only 60 days.
Wheat prices on Monday fell to their lowest level since September 2021 on waning supply concerns in the short term.
Chicago wheat futures ended trading the day before down 1.6 percent to $7.1 a bushel. Since the beginning of February, the contract has fallen in price by about 6%, a record pace since November.
As Bloomberg notes, amid the war unleashed by Russia, Ukraine is seeking to extend the Black Sea Grain Initiative for another year.
Traders believe the deal will be successfully extended and the expectation of an active grain supply from the region is putting pressure on futures, notes Terry Riley, senior commodity market analyst at Futures International LLC.
In its February report, the U.S. Department of Agriculture (USDA) raised its forecast for corn exports from Ukraine in 2022/2023 marketing year (MY, July-June) by 2 million tons, compared to January data, to 22.5 million tons from 20.5 million tons, and wheat exports by 0.5 million tons, to 13.5 million tons from 13 million tons.
According to a report on the U.S. Department of Agriculture website Thursday, the forecast for corn production in the current MY is maintained at 27 million tons and wheat at 21 million tons.
Also in the February forecast, the estimate of transitional corn balances in Ukraine at the end of 2022/2023 MY was reduced by 2 million tons to 3.39 million tons from 5.39 million tons, and by 0.5 million tons for wheat to 4.21 million tons from 4.71 million tons.
At the same time, the estimate of domestic consumption of corn in Ukraine in 2022/2023 MY remained at 5 million tons, and wheat – 4 million tons.
In general, the forecast of feed grain exports in Ukraine in 2022/23 MY in the February forecast was increased by 2 million tons – to 24.93 million tons from 22.93 million tons in January, and the forecast of its production was kept at 34.16 million tons.
As reported, Ukrainian agrarians by February 3, 2023 harvested 78.93 million tons of major crops from 18.46 million hectares, including 53.2 million tons of grain and leguminous crops. Wheat in 2022 harvested 20.2 million tons from 5 million hectares, and corn – 25.9 million tons from 3.9 million hectares.
Ukraine from the beginning of 2022/2023 MY to February 3, exported 27.46 million tons of crops, which is 29.8% less than the same period of the previous MY. External markets supplied 15.68 million tons of corn (-2.1% compared to the same period last year), 9.84 million tons of wheat (1.75 times less), 1.83 million tons of barley (3 times less), 12.8 thousand tons of rye (12.3 times less) and 85 tons of flour (+33%).
Four dry cargo ships will deliver corn and wheat to China and Spain, the Joint Coordination Center (JCC) reported.
“Four vessels left Ukrainian ports on January 19, carrying a total of 229,749 tons of grain and other foodstuffs as part of the Black Sea Grain Initiative,” the report said.
Three vessels Star Sapphire (74 904 tons of wheat), Mana (47 267 tons of wheat and 11 420 tons of corn) and Serenity Ibtihaj (26 653 tons of corn) left for Spain. Vessel Andros Spirit will carry 69.505 tons of corn to China.
Four dry cargo ships are also on their way to Ukrainian ports, which passed through the maritime humanitarian corridor on Thursday.
“As of January 19, the total tonnage of grain and other agricultural products exported from the three Ukrainian ports is 18,051,260 tons. A total of 1,316 dry cargo ships have been allowed to move so far: 652 to arrive at Ukrainian ports and 664 to leave them,” the JCC summarized.
cargo ships, CHINA, CORN, SPAIN, WHEAT
Three ships carrying corn and wheat left Ukrainian ports on Tuesday, the Joint Coordination Center (JCC) reported.
“Three ships left Ukrainian ports on January 17, carrying a total of 119,000 tons of grain and other food as part of the Black Sea Grain Initiative,” the report said.
Two dry-cargo vessels Kestrel S (26.5 thousand tons of wheat) and Great Arsenal (25.5 tons of wheat) went to Turkey. Navios Helios vessel will deliver 67 thousand tons of corn to China.
Four dry-cargo ships are also on their way to Ukrainian ports, which on Tuesday passed through the maritime humanitarian corridor.
The JCC reported that “77 applications for participation in the initiative have been submitted.” Nine ships are awaiting permission to enter Ukrainian ports, while 24 loaded dry cargo ships are waiting to depart for their destinations.
“As of January 17, the total tonnage of grain and other agricultural products exported from the three Ukrainian ports is 17,757,311 tons. A total of 1,307 dry cargo vessels have been allowed to move so far: 649 to arrive at Ukrainian ports and 658 to leave them,” the JCC summarized.
Two dry cargo ships with more than 45,000 tons of wheat and corn left Ukrainian ports on Friday, the Joint Coordination Center (JCC) reported.
“On January 5, two ships left Ukrainian ports, they are transporting a total of 45.3 thousand tons of grain and other food within the framework of the Black Sea grain initiative,” the report said.
Dry-cargo vessels Lady Divina (18.3 thousand tons of wheat) and Med Island (27 thousand tons of corn) had left to Italy.
Six dry cargo ships, which passed through the humanitarian corridor on January 6, are also on their way to the ports.
“As of January 6, the total tonnage of grain and other agricultural products exported from the three Ukrainian ports is 16,832,561 tons. A total of 1,250 vessels were allowed to move so far: 622 to arrive at Ukrainian ports and 628 to leave them,” the JCC summarized.
