Posted on May, 27, 2024 at 09:11 am
KYIV- Ukraine’s grain exports in the 2023/24 July-June marketing season had reached 45.4 million metric tons by May 24, exceeding the previous season level of 44.6 million tons, agriculture ministry data showed on Friday.
This season’s exports included almost 4 million tons so far in May, the data showed.
The overall exports included 16.9 million tons of wheat, almost 25.6 million tons of corn and 2.4 million tons of barley.
Ukraine typically sends about 95 percent of its grain exports via its Black Sea ports.
The Ukrainian government expects a harvest of 81.3 million tons of grain and oilseeds this season, with a 2023/24 exportable surplus of about 50 million tons.
The ministry has said the 2024 combined grain and oilseed crop could fall to 74 million tons, including 52.4 million tons of grain.
The economy ministry sees the 2024 grain and oilseed crops at 73 million tons.
Meanwhile, the G7 will explore ways to use the future income from frozen Russian assets to boost funding for war-torn Ukraine, finance chiefs from the Group of Seven industrial democracies said on Saturday, but offered no details of how to do so.
The G7 and its allies froze some $300 billion of Russian financial assets, such as major currencies and government bonds shortly after Moscow invaded its neighbor in February 2022.
“We are making progress in our discussions on potential avenues to bring forward the extraordinary profits stemming from immobilized Russian sovereign assets to the benefit of Ukraine,” the G7 said at the end of a two-day meeting in northern Italy.
Financing for Ukraine and meeting China’s growing export strength were the main themes addressed in comments from finance ministers during the gathering in the lakeside town of Stresa.
Source: Business Insight