Exports of Ukrainian grain are lower than before, and harvests of other major producers have declined due to drought.
Grain is aging in the world, despite the continuation of exports from Ukraine: the export of Ukrainian grain is lower than before, and the harvests of other major producers have decreased due to drought. This was reported by Reuters.
Unfavorable weather conditions led to a reduction in grain yield and a decrease in stocks. American farmers had predicted a significantly large harvest, but now it appears that the United States, the world’s largest corn producer, will harvest its smallest crop in three years. The drought has also damaged crops in Europe and threatens the upcoming planting season in South America.
Limited grain stocks reflect the impact of climate change on crop production as well as the growing global demand for maize-eating animals. The International Grains Council said stocks of all harvested grains worldwide were the lowest in eight years.
Bad weather could lead to further declines in global stocks. Crop forecasts in Argentina, the world’s third-largest corn exporter, have been lowered due to dry weather.
According to experts, EU grain production will fall to a 15-year low, prompting an increase in imports from Ukraine in 2022/23 by about 30% compared to last year (up to 10.4 million tons).
Ukrainian exports of corn and wheat rose after a UN-brokered deal with Russia allowed shipments to resume from previously blocked ports, but it is not known how long Ukraine will be able to export.
“It’s kind of a false hope that Ukraine can bridge the current supply and demand gap,” said Gary Blumenthal, head of the Washington-based agricultural consultancy World Perspectives.
According to official estimates, Ukraine will harvest between 25 and 27 million tons of corn in 2022, compared to 42.1 million tons in 2021 before the Russian invasion.
According to Kevin Hack, vice president of ingredients supplier Univar Solutions ( UNVR.N ), supplies of wheat and other agricultural products from Ukraine are only a fraction of pre-war levels.
“The supplies coming from this area can be stopped at any moment,” he said.
War-related sanctions mean Russia is also trying to export wheat, which is expected to produce a record high.
The World Bank has committed $30 billion to address food insecurity, and US President Joe Biden last week announced nearly $3 billion in additional funding to combat global food insecurity.
According to the UN, half a million Somali children are suffering from hunger as a result of the severe drought.
Earlier it was reported that from the ports of Odessa already sent abroad the grain of the new crop.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.