Ukraine early grain yields rise 25% yoy

Ukrainian farmers finalized the harvesting campaign of
early crops with a total harvest of 43.7 mmt from an area of 6.9 mln ha (98% of
the total land sown) as of Aug 19, the Agrarian Ministry reported on Aug 20.
The average grain yield rose 25.3% yoy to 4.4 t/ha.

Wheat was harvested from 6.9 mln ha with an average
yield of 4.6 t/ha, a 21.5% yoy rise. Barley was harvested from 2.4 mln ha with
an average yield of 4.1 t/ha, which is 26.2% higher yoy. Rapeseed was harvested
from 1.0 mln ha with an average yield of 2.8 t/ha, a 18.2% growth yoy.

Farmers harvested 32 mmt of wheat (27.5% higher yoy),
10.0 mmt of barley (28.6% higher yoy) and 2.7 mmt of rapeseed (7.0% higher
yoy).

Andriy Perederey: The 2021
harvest results of early crops are higher due to favorable weather conditions
this season. The results were higher than our expectation of a 29.5
mmt wheat harvest and a barley harvest at about 9.5 mmt. Also, the 2021 harvest
of early crops was a record high for the last 30 years.

We see that harvested volumes will be in line with the
forecast from Economy Ministry, which is about 75 mmt of grain crops (up 15%
yoy). In this way, agriculture will be among the key drivers of Ukraine’s GDP
growth this year.