Ukrainian Agriculture: Grain Production May Decrease by 4-5%

The Ukrainian Ministry of Agriculture announced on Monday that the average grain production in the country is likely to decline by four to five percent in 2024. The ministry stated that corn, which is the largest grain crop in Ukraine, is expected to remain unprofitable this year, while wheat will yield "slim profitability." Producer unions reported that both wheat and corn were not profitable in 2023, which may force farmers to reduce the area planted with corn in 2024. No explanation was provided for the potential decline. Ukraine is one of the world's top grain producers and exporters, but its harvests have decreased following the Russian invasion in 2022.