Ukraine: Supplies to foreign markets continue to decline in this MY

During this MY, the supply of flour to foreign markets continue to decline. From the biginning of the current MY and as of November 21, 82.500 tons of flour were supplied from Ukraine to foreign markets.

Such information was obtained from Ministry of Agrarian Policy.

According to the information received, this indicator is 80.700 tons lower than the figures for the same period last year.

Exports of wheat flour reached 81.900 tons, while supplies of flour made of other types of grain reached 600 tons.

It should also be recalled that in just the past year, the volume of export supplies of flour amounted to 413.000 tons.

According to information received earlier, the main factors that make it possible to assess the prospects for trading the abovementioned product are the potential for purchasing by importing countries, and in addition, how much of this product is actually imported in the world.

This month, the decline in the supply of flour to the foreign markets of Ukraine continues. One of the reasons for this decline is an increase in domestic demand for flour, caused by a change in consumer habits of the population and an increase in the number of citizens who refuse to consume meat products in favor of a healthier diet. At the same time, the increase in grain prices also contributes to a reduction in the supply of flour to foreign markets, as producers prefer to sell grain in the domestic market, where prices are higher.

According to the State Fiscal Service of Ukraine, in the first quarter of 2023, flour exports amounted to about 120,000 tons, which is 16% less than in the same period last year. At the same time, domestic demand for flour continues to grow. According to the State Statistical Service of Ukraine, in the first quarter of 2023, flour production increased by 7.5% compared to last year.

Despite the decline in flour supplies to foreign markets, Ukraine remains one of the largest grain exporters in the world. Apart from this, Ukraine also actively exports other agricultural products such as sunflower oil, cereals and meat.