In December 2024, the volume of exports of Ukrainian agricultural products decreased by 11.1% compared to November and amounted to 5.5 million tons. Such data was provided by the Ukrainian Agrarian Business Club (UKAB) association. This is the first significant reduction that occurred due to economic, rather than logistical, restrictions, even in wartime.

The main reasons for this decline were changes in market conditions, a decrease in food stocks, and farmers' expectations for more favorable price conditions. Despite the general slowdown, the structure of exports in December remained diverse, although a decline was observed in all key categories.

Details of the export structure
1. Cereal crops - exports amounted to 3.6 million tons, which is 13% less than in November. Of this volume, corn accounted for 74%, wheat for 23%, and barley for only 3%.
2. Oilseeds — 580.6 thousand tons, which is 28% less. This category was dominated by soybeans (62%) and rapeseed (37%).
3. Vegetable oils — 421.9 thousand tons, a decrease of 22%. The main part of exports was sunflower oil (90%), while soybean and rapeseed oil accounted for 8% and 2%, respectively.
4. Oilcake after oil extraction — 519.1 thousand tons, which also shows a downward trend.

Main reasons for the reduction
Experts note that the key factors of influence were the decline in global demand for Ukrainian agricultural products and the difficult economic situation. In addition, farmers decided to temporarily refrain from selling products in anticipation of better market conditions.

What’s next?
Despite the temporary downturn, analysts remain optimistic about the long-term prospects for Ukraine’s agricultural sector. It is expected that after markets stabilize and planned reforms are implemented, exports may return to positive dynamics.

Given the role of the agricultural sector in shaping Ukraine’s economy, the government and business community should step up efforts to improve export conditions, attract new markets, and stimulate production.