Business news from Ukraine

UKRANIAN FARMERS RAISE UAH 3.2 BLN VIA CROP RECEIPTS IN 2018

Farmers registered 514 crop receipts for the amount of UAH 3.2 billion in January-September 2018, Ukraine’s Agricultural Policy and Food Ministry has reported.
According to the ministry’s report, crop receipts were issued with future crops used as collateral. Since the launch of the tool as of October 9, 2018, farmers registered 696 crop receipts for the amount of UAH 4.4 billion, including 290 commodity receipts for UAH 2.5 billion and 406 financial receipts for UAH 1.9 billion.
The ministry said that liabilities under 176 crop receipts for UAH 1.4 billion were completed.
The ministry said that in 2018, 74% of the total crop receipts were registered. Producers of grain and oilseeds, producers in vegetable growing, gardeners and livestock breeders used the tool.
The ministry said that 54% of crop receipts were issued to entities with a land bank of 1,000-5,000 ha, 36% – with over 5,000 ha and 10% with up to 1,000 ha.

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U.S. DEPARTMENT OF AGRICULTURE IMPROVES FORECAST FOR MAIZE CROP IN UKRAINE IN 2018 TO 31 MLN TONNES

The U.S. Department of Agriculture (USDA) in August improved the forecast for maize crop in Ukraine in 2018 by one million tonnes compared to the July forecast, to 31 million tonnes. According to a report on the website of the U.S. department, the forecast for maize exports for the 2018/2019 marketing year (MY, July-June) was also increased by 500,000 tonnes, to 24.5 million tonnes.
The USDA maintained the forecast for wheat exports from Ukraine in the 2018/2019 MY at 16.5 million tonnes with the yield being 25.5 million tonnes, which corresponds to the figures published in July.
In general, the U.S. department raised the forecast for grain harvest in Ukraine by 1.85 million tonnes, to 65.6 million tonnes, exports by 1.45 million tonnes, to 45.66 million tonnes.
As reported, with reference to the Ministry of Agrarian Policy and Food of Ukraine, exports of grains in the 2017/2018 marketing year, according to preliminary data, amounted to 39.4 million tonnes against 43.8 million tonnes for the previous MY.
The harvest of grain in Ukraine in 2017 amounted to 61.28 million tonnes, which is 4.7 million tonnes less than in 2016.

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