The area planted with corn in Ukraine in 2024 will likely decrease by 4.5%, to 3.863 million hectares, compared to the 4.043 million sown in 2023. This is according to the Ministry of Agriculture's first official sowing forecast for this year, released on Monday. fair.
Ministry indicates reduction in wheat and sunflower, but increase in barley and soybeans in farmers' planting area. The perspective of corn sowing of the ministry exceeds what the government expected, with a greater increase than predicted in a February survey.
Farmers are reviewing their planting plans for 2024 after low corn prices caused losses. However, its ability to switch to the more profitable soybean is limited by scarcity of financing.
Challenges and perspectives of corn production in post-invasion Ukraine
Farmers in most regions of the war-torn country have started sowing barley and other spring grains, but still have time to decide whether to sow corn.
Ukrainian corn production has increased sharply this century, rising from just 3.8 million metric tons in 2000 to a peak of around 42 million in 2021.
Russia's invasion has reduced production, although cereal remains Ukraine's largest grain crop at 30 million tonnes in 2023, followed by wheat at 22 million tonnes.
Ukrainian grain traders union UGA said this month that the 2024 corn harvest could decline to 26.3 million tonnes from 29.6 million in 2023.
Corn exports could fall to 20.5 million tonnes in 2024/25 from 26 million in 2023/24, traders said.
More soy, less sunflower
The ministry predicts an increase in the area of soybeans planted to 2,199 mi ha, compared to 1,780 mi ha in 2023. Soybeans were almost the only profitable crop in 2023. Former leader in the production of Sunflower oil, Ukraine may reduce the cultivation area to 5.292 million due to falling prices.
