KYIV, Ukraine, May 16, 2013 /PRNewswire/ --
Ukraine is expected to show double-digit increase in the production and export of corn, wheat and coarse grains in the 2013/2014 marketing year (MY), which starts July 1. Such statement was released by Forbes.ua based on the report produced by the United States Department of Agriculture (USDA).
Reportedly, wheat and corn will be driving the increase of Ukraine's overall grain export in MY 2013/2014. According to USDA, the production of wheat in Ukraine is expected to increase by 40 percent to 22.6 million tons, whereas production of corn and coarse grains is expected to increase by 24 percent and 17 percent to 26 million and 34.5 million tons respectively.
The increase in production of grains, says the report, is likely to result in the increase of export. Therefore, Ukraine is expected to export 9.5 million tons of wheat (July/June), 18.6 million tons of coarse grains (Oct/Sep) and 16.5 million tons of corn (Oct/Sep) in the 2013-2014 MY, thus marking the increase of 21, 18 and 22 percent respectively.
Predicting Ukraine to become one of the top three world exporters of corn and coarse grains in the 2013/2014 MY, USDA suggests that Ukrainian companies can secure 7 percent of the world exports of wheat and 16 percent of corn.
Remarkably, USDA expects the production growth of most major crops to increase 7-13 percent worldwide in the next MY compared to the current crops that have been affected by drought.
Ukraine has been also mentioned in the USDA's Agricultural Projections to 2022 report, which predicts that the country will become one of the major barley and corn exporters within the next decade.
Presently, Ukraine is one of the world's top grain exporters as it takes some of the leading positions on global markets of wheat, barley, and corn. Ukraine has a 12.9 percent share of the global corn market, 18.5 percent share of the world barley market, and a 4.5 percent share of the wheat market.
SOURCE Worldwide News Ukraine