Business Blog: Agricultural sector news
Bumper harvest in motion Ukraine is slated to have its highest grain harvest by volume in a decade.
Interfax Ukraine reported that 33.3 million tons of grain has been harvested as of Sept. 9, a 24 percent jump for the same period last year on 10.8 million hectares of land, or 39 percent of the 28 million hectares that was planted. This implies an average yield of 3.07 tons per hectare, 19 percent more than last year, investment house Dragon Capital said in a note to investors.
The Agriculture Ministry forecasts this year’s grain harvest at 57-59 million tons, but Dragon Capital has a more conservative forecast of 55 million tons. However, the investment bank thinks grain exports in the 2013/14 marketing year could reach 28.6 million tons, above the agriculture ministry’s forecast of 28 million tons.