UGA Improved the Forecast Regarding the Increase in the Harvest of Agricultural Products

The Ukrainian Grain Association (UGA) has improved the forecast for the yield of grains and oilseeds in the 2022 season. Now the forecast is 67.5 million tons. Earlier, UGA reported that farmers would collect 64.5 million tons of agricultural products from the fields. Thus, the forecast was improved by 5% or 3 million tons.

The improved UGA forecast is based on the increase in crop area. In addition, the yield per hectare was higher than previously predicted by experts. On average, it amounted to 3.64 tons per hectare; previously predicted yields were around 3.57 tons/ha.

In 2022, Ukrainian farmers harvested 19.3 million tons of wheat. At the same time, a stock of wheat in the amount of 10 million tons remained in grain storage. Ukraine is expected to export about 13 million tons in the 2022/2023 season. The transitional stock at the end of the season will be 6.8 million tons. The situation has also improved for barley. The forecast was 5.6 million tons, and exports in the 2022/2023 season will be 2 million tons. As for corn, the expected harvest is 24 million tons, of which 20 million tons can be exported. The transitional stock of corn in Ukraine's grain storage facilities is 7.8 million tons.

The estimated sunflower harvest will be 10 million tons. Of these, about 6 million tons will be exported. After the 2022/2023 season, transient stocks will amount to 5.8 million tons. Sunflower processing for oil will amount to 7 million tons. As for the rest of the crops, turnip harvest is forecast at 3.15 million tons, and soybeans at 3.6 million tons. Turnip and soybean exports will amount to 2.8 million tons and 3.5 million tons, respectively, taking into account reserves.

Thus, by the end of the 2022/2023 season, exports may amount to 47.5 million tons. This will be possible if the grain initiative continues to work.