In August, Ukraine exported only 20% of its wheat needs—Vysotsky
20 August 13:36
From August 1 to 18, Ukraine exported 900,000 metric tons of agricultural products, which accounts for 31% of the volume that could have been exported had there been unimpeded access to logistics, said Minister of Agrarian Policy and Food Taras Vysotsky at a briefing in Kyiv, according to "Komersant Ukrainian".
“The biggest drop was in grains. A total of 522,000 metric tons of grains were exported, which is only 20% of the required amount. Exports of oilseeds during this period totaled 163,000 metric tons, vegetable oil—128,000 metric tons, and meal—86,000 metric tons. In these categories, export rates are in line with balance sheet figures,” Vysotsky noted.
According to him, alternative logistics routes can, in terms of volume, support the export of oilseeds and their processed products. As for grains, alternative routes can primarily be used to export products from border regions.
He added that due to changes in logistics, transportation costs have increased by approximately $50 per metric ton.
According to Vysotsky, exports of oilseeds and their processed products remain profitable, whereas for grains—with the exception of border regions—they are unprofitable.
Overall, from August 1 to 18, approximately 45% of agricultural products were exported via the Danube, 45% by rail, and another 7–8% by road.
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The Ministry Wants to Extend the Deadline for the Return of Foreign Currency Proceeds from Grain and Oil
In addition, as reported by Vysotsky, the Ministry of Agrarian Policy will submit a proposal to the Cabinet of Ministers on Thursday to instruct the National Bank of Ukraine (NBU) a recommendation to extend the deadline for the repatriation of foreign currency proceeds from the export of major grains, oilseeds, and vegetable oil from 120 days to 150 days. The minister hopes for the swift implementation of this proposal.
“Today I will sign a proposal to the Cabinet of Ministers of Ukraine for consideration regarding an increase (in the repayment period for foreign currency proceeds) by 25%—from 120 to 150 days,” he said.
The minister clarified that this period was determined in consultation with the farmers themselves, who “mapped out the logistics and concluded that there is currently an additional 30-day lag.”
“We will propose—all approvals are already in place—that a corresponding decision be adopted next week by the government in conjunction with the (National) Bank,” Vysotsky noted.
As previously reported, effective July 12, 2024, the National Bank extended the deadline for the return of export proceeds for a number of agricultural products from 90 to 120 days in response to a government recommendation dated June 21 of that year.
This applies to goods classified under the following UKTZED codes: 1001 (wheat), 1002 (rye), 1003 (barley), 1004 (oats), 1005 (corn), 1201 (soybeans), 1205 (rapeseed), 1206 00 (sunflower seeds), 1507 (soybean oil), 1512 (sunflower oil), 1514 (rapeseed oil), and 2306 (oilseed meal).
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