Page 71 - UKRRptAug22

crops, farm animals.”
US analysts’ lower forecasts for wheat production in Ukraine. The US Department of Agriculture (USDA) has revised its forecast downward for global wheat production for the 2022-23 marketing year. In Ukraine, the adjustment to the previous estimates amounted to a projected total of two million tons less than previous estimates. In the July report, USDA analysts lowered the forecast for world wheat production in the 2022/23 marketing year to 771.6 million tons, compared to the 773.4 million tons forecast previously, which is also less than the result of last season’s 779 million tons. Downward adjustments were made for Argentina to 19.5 from 20 million tons, the EU - to 134.1 from 136.1 million tons, and Ukraine to 19.5 from 21.5 million tons. At the same time, the harvest forecast was increased in Canada, Russia, and the USA. According to analysts, the anticipated world wheat exports in the 2022-23 marketing year increased to 206.6 million tons against the 205.4 million tons in the June forecast.
Agricultural products are Ukraine’s most important exports. In 2021 they totaled $27.8 billion, accounting for 41 percent of the country’s $68 billion in overall exports and 15% of GDP. Ukraine exported up to 6 million tonnes of grain a month before Russia invaded the country on Feb. 24, but in recent months the volumes have fallen to about 1 million tonnes, sparking global grain shortage concerns and price spikes. Ukraine reached 54.9 million tonnes of wheat, corn and barley exports in 2019-2020, but dipped to 44.9 million tonnes in 2020-21, mostly on lower wheat production, according to the US Department of Agriculture's (USDA) Feb. 1 Foreign Agricultural Services (FAS) quarterly report. Before Russia's invasion, Ukraine had been projected to export 63.7 million tonnes of the grains in 2021-22.
Ukrainian embassy: Ship with stolen Ukrainian grain docks in Lebanon. Ukraine’s Ambassador to Lebanon Ihor Ostash met with Lebanon’s President Michel Aoun on July 28 to discuss the export of Ukrainian wheat to the Lebanese market. The ambassador also informed him that on July 27, a Syrian ship loaded with barley stolen from the occupied territories entered a port of Tripoli and asked to take measures. Ostash said that purchasing stolen Ukrainian goods would “harm bilateral ties” between Kyiv and Beirut.
The cost of insurance for ships with Ukrainian grain will increase hundreds of times. Lloyd's of London and other brokers are preparing to insure grain shipments from Ukraine, said the head of the commercial insurance market, Bruce Carnegie-Brown. He said that brokers and underwriters should announce individual programs in the coming days. Premiums for entering the vast Black Sea area have increased dramatically, to 5% of a ship's cost, up from 0.025% before the invasion. Brokers have already shown interest in insuring vessels passing through the grain corridor. However, they are ready to do this only on the condition that international naval escorts will be present and a clear strategy for combating sea mines will be organized.
Equipment for temporary grain storage is coming to Ukraine. Specialised equipment for the temporary storage of grain crops will be delivered to
71 UKRAINE Country Report XXXX 2018 www.intellinews.com