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Ukraine aims for record grain harvest

Ukrainian farmers have as of 29 July harvested nearly 27 million tonness of grain representing a 21% year-on-year increase on 9 million hectares of land, investment bank Dragon Capital said in a report.

The figures imply an average yield of 2.95 tonnes per hectare, or a 22% rise over the same period last year, according to the Ukraine media Kiev Post.

Dragon Capital reported that the volume included 19.6 million tonnes of wheat, 6.2 million tonnes of barley and 2.1 million tonnes of rapeseed. The Agriculture Ministry forecasts that 57-59 million tonnes of grain will be harvested this year, up 22-26% over last year, and the highest volume in a decade, Dragon Capital said.

“We are currently more conservative on the 2013 harvest outlook in view of the very dry weather currently being observed in central and southern Ukraine, expecting production of 55.1 million tonnes (+26% year-on-year). At the same time, we think grain exports in the 2013/14 marketing year could hit 28.6 million tonnes (+19% year-on-year), above the Agriculture Ministry’s forecast, including 17.7 million tonnes of corn (+20%), 8.2 million tonnes of wheat (+20%) and 2.7 million tonnes of barley (+15%),” said experts.

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