As per official statistics, the total July-August 2024 wheat export from Ukraine amounted to 3.8 MMT, which is 23% of the memorandum-set volume for wheat for 2024/25 MY, which has been established at 16.2 MMT. It is quite a high pace compared to the percentage of wheat shipments in 2021/22 MY (18%) when the memorandum was in force last.

Current pace of wheat export is 87% higher y/y.

As a reminder, the memorandum volume of 16.2 MMT was offered by Ukrainian millers on 21 August 2024. As of 03 September, Acting Minister of Agrarian Policy and Food of Ukraine Taras Vysotskyi and grain market participants signed an annex to the Memorandum of Understanding with this mentioned volume for 2024/25 MY.