Ukraine 2019 crop harvest rises 7% in 2019

Ukrainian farmers harvested a total of 75.1 mmt of
grains (7.2% higher yoy) from 15.3 mln ha in 2019, while the average crop yield
increased 3.8% yoy to 4.9 t/ha, according to State Statistics Service data
published on Feb. 3. Farmers harvested 28.3 mmt of wheat (15.0% more yoy) from
6.8 mln ha (3.0% more yoy) with an average yield of 4.2 t/ha (up 11.7% yoy) in
2019. Total corn harvest rose 0.13% yoy to 7.2 mmt from 5.0 mln ha (9.2% more
yoy) with an average yield of 7.2 t/ha ( 8.3% lower yoy).

Also, farmers harvested 15.3 mmt of sunflower seed
(7.7% more yoy) from 6.0 mln ha (3.4% less yoy) with an average yield of 2.6
t/ha (up 11.5% yoy). Soybeans output slid 17.1% yoy to 3.7 mmt with an average
yield of 2.3 t/ha (11.3% lower yoy) in 2019. Rapeseed output surged 19.2% yoy
to 3.3 mmt, harvested from 1.3 mln ha (22.7% more yoy) with an average yield of
2.6 t/ha (3.0% decrease yoy) in 2019.

Andriy Peredrey: The 2019 harvest results are a record high for the last 20 years,
making a significant contribution to 2019 GDP and will have had a positive
influence on the 1H20 trade balance. Also, the robust sunflower seed harvest
will support margins for sunflower oil producers like Kernel (KER PW), but the
lower soybean harvest could partly offset that.