Over the past week, 25 vessels exported 1,100,000 tonnes of agricultural products to Africa, Asia, and Europe. In particular, 54,000 tonnes of wheat were shipped to Sri Lanka, 57,000 tonnes to Bangladesh, and 90,000 tonnes are expected to deliver cargo to Kenya, Tunisia, and Egypt.
Exports through the ports of Greater Odesa have increased by 152,000 tonnes compared to the previous week. At the same time, the number of new vessels calling for loading continues to decline. Last week, the ports of Greater Odesa received only 16 vessels, and the week before that - 25.
A mere 9% of almost 1,500 global companies have left the Russian market since the full-scale invasion.
That’s according to Mykhailo Podolyak, an advisor to the head of the President's Office, Ukrinform reports.
Yesterday, on February 13, with the participation of Mustafa Nayyem, Head of the State Agency for Restoration and Infrastructure Development, the temporary infrastructure at the future automobile checkpoint on the border with Poland - Nyzhankovychi - Malhowice - was opened. The ceremony took place as part of the Open Border project initiated by the President of Ukraine.
On Thursday 9 February, the Atlantic Council (the US non-governmental organization researching international relations and international security problems) published an expert column of NIBULON's CEO, Andriy Vadaturskyy, about private businesses in Ukraine that are struggling on their own to survive the devastation caused by the Russian invasion, as well as about the necessity to internationally support the agrarian sector. NIBULON's CEO also mentioned possible consequences for the entire world in case of absence of appropriate assistance.
An investment company, J.P. Morgan, which manages a USD 4 trillion investment fund, will help the Government of Ukraine attract private investment to rebuild the country. This is stated in a Memorandum of Understanding between the Ministry of Economy of Ukraine and J.P. Morgan Securities plc. The document was signed by First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko.
According to real-time harvest data, 269 K mt of peas were harvested in Ukraine in 2022, or half as much as the year before. Due to active hostilities in the southeast, the pea area shrank from the usual 240-250 Th ha to 118 Th ha. Supposedly, plantings of other, later pulses also decreased amid related challenges faced by the Ukrainian farmer (difficulties in selling products abroad, a lack of money for sowing, a shortage and increasing prices of fuels, fertilizers and other inputs).
Much lower than last year, the volumes of forward sales of soybeans from Brazil indicate a reduction in global demand due to a decrease in imports by China. In addition, importers are restraining purchases in anticipation of a seasonal drop in soybean prices from South America, and producers have limited sales in the hope of rising prices, although they remain at a fairly high level.
The FAO Food Price Index (FFPI) averaged 131.2 points in January 2023, down 1.1 points (0.8 percent) from December, marking the 10th consecutive monthly decline. With this latest decline, the index has fallen 28.6 points (17.9 percent) from the peak it reached in March 2022. The drop in the index in January was driven by declines in the price indices of vegetable oils, dairy and sugar, while those of cereals and meat remained largely stable.
In January 2023, Ukraine shipped 5.5 million tons of grains, oilseeds and their products. This is 1.3 million tons less than in December 2022. This downward trend is caused by the artificial blocking of the grain corridor by russian inspectors. As a result, only 3 million tons were shipped in the first month of the year as part of the grain initiative. In September-October, exports of agricultural products through the grain corridor in the framework of the grain initiative amounted to about 4 million tons and over 4 million tons, respectively.
In January, compared to December, Ukraine reduced the export of agricultural products by 24% to 5.5 million tons, in particular, corn - by 27% to 2.6 million tons, wheat - by 19% to 1.3 million tons, as a result of deliberate blocking by Russian inspectors inspection of ships and the lack of energy supply in the Black Sea ports during the last 10 days due to shelling of the energy infrastructure of Odesa.
Against this background, the purchase prices for corn in the Black Sea ports fell from $210-212/t to $200-205/t, as the additional costs of traders for idleness of vessels waiting in inspection queues rose to $30-40/t.