Ukraine grain yield rises 16% yoy as of July 22

Ukrainian farmers harvested 14.1 mmt of early grains
from an area of 3.4 mln ha (22% of the total land sown) as of July 22, the
Agrarian Ministry reported July 23. The average grain yield rose 15.6% yoy to
4.2 t/ha. Wheat was harvested from 2.1 mln ha with an average yield of 4.3
t/ha, a 17.1% yoy rise. Barley was harvested from 1.2 mln ha with an average
yield of 4.2 t/ha, which is 11.1% higher yoy. Farmers harvested 8.9 mmt of
wheat (32% lower yoy) and 5.0 mmt of barley (22% lower yoy).

Andriy Perederey: The harvesting campaign is going later this season than in the
last one (22% of total sown area was harvested vs. 38% the same date a year
ago), or closer to a “normal” schedule. Last year’s earlier harvesting was
dictated by dry weather. Favorable weather this season is pushing grain yields
higher. We expect that Ukrainian farmers will harvest about 29.5 mmt of wheat
(up 17.5% yoy) 9.5 mmt of barley (up about 18.0%). 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.