Ukraine. 55% of memo wheat exports were shipped in July-Nov 2024/25

Wheat exports

Wheat exports in July-Nov 2024 totaled 8.96 M mt (preliminary figure), significantly higher y/y (5.8 M mt). However, exports have not yet reached the level of pre-war export volumes. Nevertheless, in the first five months of the 2024/25 season, 55% of the maximum wheat export volume approved in August under the Memorandum of Understanding between the Ministry of Agrarian Policy and agrarian associations of Ukraine was shipped to foreign markets.

Top 5 importers include three Southeast Asian countries – Indonesia, Vietnam and Thailand. The share of Asian destinations significantly increased due to the sea corridor stable operation. However, Spain remains the main destination. Other new destinations include Algeria with wheat imports more than 500 K mt. Poor harvests in France have prompted local importers to switch to the Black Sea grain suppliers.