Ukrainian agri exports slowed in May after a record high in April

Usually, spring agri exports decline. But April export was the strongest in the 2025/26 season, more than 5 M mt shipped. This record was supported by these factors:

• growing corn supply due to delayed corn harvesting;
• recovery of farmer selling;
• weak wheat exports during winter;
• strong corn demand from Turkey and the EU.

The most important point is that Ukraine April record was despite intensified russian attacks on port infrastructure. According to the Ukrainian Sea Ports Authority, more than 500 attacks were in April alone. The attack on the KSL Deyang vessel, owned by a Chinese shipowner and located near Odesa waters, also highlighted the growing security risk for maritime trade.

Ukraine. Agricultural exports by mode of transport, mt

Source: UkrAgroConsult, based on official export statistics

Corn remained the main driver of Ukrainian agri exports in May 1-15 due to strong Turkey and the EU demand. This supports FOB prices and helps Ukraine to ship old-crop stocks before the new season.

Top commodities exported in May 1–15:

• corn – 1.16 M mt
• wheat – 0.55 M mt
• sunflower oil – 0.20 M mt
• meals – 0.18 M mt.

Ukraine exports can be still large by volumes vs. rising logistics risk premium.