Головна Market News Export of Ukrainian peas in MY 2016/17 beats all the previous records

Export of Ukrainian peas in MY 2016/17 beats all the previous records

In January 2017 Ukraine established a new record on export of peas, exporting to foreign markets 289.2 KMT of leguminous products (for the first seven months of the current season). The previous record lasted exactly 10 years – back then, in 2006/07, the shipments of Ukrainian peas abroad amounted to 257.2 KMT. Moreover, in July and August of the last year there have been two more records in terms of monthly deliveries – 94.8 KMT and 97.4 KMT, respectively.

Basically, several aspects have contributed to the new achievements. First of all, in 2016 domestic farmers gathered a rich harvest of leguminous – 378 KMT, which is almost twice more than in the previous year. This happened due to an increase in cultivated area and, consequently, increase of average yields. Second, there is a very good demand for peas by the traditional importing countries in the current season on the world market. Third, the high demand has led to the growth of prices for grain legumes. For example, if in January-December of last season the average price of Ukrainian peas on the combined basis of CPT/DAP/FOB/CIF, according to ProAgro, was $283.9/t, then the current has increased to $296.4/t and this happens during continuing decline in world prices for major grain crops.

Nevertheless, high demand encouraged manufacturers to actively sell their harvest and good quality of Ukrainian peas was “attractive” for buyers. Many years in a row the main consumers of Ukrainian grain legumes are as follows: India, Pakistan, Bangladesh – for inhabitants of those countries peas is one of the main components of the everyday diet. According to the results of the current seven months season, India bought 116.3 KMT of peas – one and a half times more than in the same period of MY 2015/16 (78.5 KMT). At the same time, Pakistan has increased its purchases by half – from 23.5 tons to 46.6 tons. In the list of main importers of Ukrainian peas Bangladesh was displaced by Turkey in the current season with import of 28.6 KMT of Ukrainian peas. On the other hand, Bangladesh imported only 16.6 KMT.

According to our colleagues from Ukrainian Club of Agrarian Business (UCAB), according to the results of 2016 (calendar) year, Ukraine has entered TOP-5 ranking of global exporters of peas, only staying behind Canada, Russia and the United States. On the eve of the new sowing campaign in Ukraine sowing peas area is projected at about 240 thousand ha (although, plots for peas can be further increased based on the high profitability of leguminous in the current season.

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