Ukrainian wheat stocks fell by 1.1 MMT in March 2017

Wheat stocks of this year amounted to 4.98 MMT (in March). This volume corresponds to 32% of the total volume of grain stocks of Ukrainian enterprises. Thus, during March 2017, 1.07 MMT of wheat were used. Out of these, 1.05 MMT were exported.

The largest grain reserves at the reporting date were located in Odessa (530.1 KMT), Mykolaiv (450.9 KMT) and Vinnytsia regions (355.3 KMT). At the same time, 44.6 KMT of wheat were in Lviv region, 44.6 KMT in Chernivtsy and only 1.3 KMT in Transcarpathian regions.

In general, the volumes of stored wheat as of the beginning of April of this year decreased by 20.7% compared to the corresponding date of the previous year. The reason for this situation is, first of all, a smaller volume of domestic supply due to a reduction in gross wheat harvest over the past two years because of harvest areas decrease as well as active grain shipments to the foreign markets. In total, since the beginning of MY 2016/17, 14.62 MMT of wheat were shipped to the foreign markets, which exceeds the results of the same period last season by 16%.

It is worth to mention that according to ProAgro, the wheat crop in MY 2016/17 is estimated at 26.06 MMT against 26.53 MMT in the previous season. In the next MY 2017/18 gross harvest of grain is expected by at the level of 26.3-26.4 MMT.