Ukraine's exports of agricultural products grow by 14% in Feb

Ukraine's exports of agricultural products grow by 14% in Feb

Ukraine exported 6.9 million tonnes of agricultural products in February 2023, or 14% more than in January 2023. The monthly export volume has returned to average figures for the last six months.

That's according to the press service of the Ukrainian Agribusiness Club, Ukrinform reports.

"In February 2023, Ukraine managed to export 6.9 million tonnes of agricultural products, which is 14% more than in the previous month. This growth became noticeable amid a drop in the indicator last month [in January]. This is an average indicator for the past six months," the report reads.

According to the report, 49% of products were exported in February 2023 as part of the Black Sea Grain Initiative and the rest via alternative routes. At the same time, not all products have yet physically crossed the border of Ukraine.

According to the Ukrainian Agribusiness Club, in February of this year, Ukraine exported 5.2 million tonnes of grain crops (including 64% of corn, 31% of wheat and 4% of barley), which is 23% more than in January 2023. It also exported 557,100 tonnes of oil-bearing crops (59% of soybeans, 30% of sunflower seeds and 11% of rapeseed), which was 30% less than in January.

In February 2023, Ukraine increased the export of vegetable oils by 4%, to 435,700 tonnes (the share of sunflower oil - 93%, soybean oil - 6%). At the same time, the export of oil cake shrank by 4%, to 414,100 tonnes (the share of sunflower cake - 85%, soybean meal - 15%).

In January 2023, Ukraine exported 6.1 million tonnes of agricultural products, which was 13% less than in December 2022.

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