Miller Magazine Issue: 141 September 2021

62 COVER STORY MILLER / september 2021 Ukraine: no reason for new record acreage in the absence of India? Ukraine faced a record peas acreage n 2017/18 MY. In 2018, India imposed import duty on peas, which pressed prices and made this crop not so attractive for Ukrainian farmers. Herewith, in 2018, peas acreage was anyway still at the level of 400 KHA. While in 2019, dry weather during planting period pushed the peas acreage down to 250 KHA. So far, as exports if peas to India is restrict- ed, there seems no reason for expanding of the acreage to new highs. Peas location close to ports Major producing areas of Ukrainian peas are located close to the ports. As most of Ukrainian peas is produced in Zaporozhie, 50% of export is going through the shal- low ports of Berdyansk and Mariupol, located close. Export targets: the EU vs. India During the last 5 years, about 80% of Ukrainian peas is going for export. Half of all exportable volume is go- ing outside the country in vessels, and exactly these peas will be under our attention in this article. Main Historically, Ukraine is not a rockstar of peas market, herewith, it reserved its place in the TOP-8 world producers (about 6% in 2021/22) and TOP-6 world exporters of this crop (about 6% could be in 2021/22). The giant world producer of peas is Canada (over 40%), followed by Russia ( ~ 25%), EU ( ~ 25%) and China. Main exporters are Canada, Russia, the EU and Ukraine. As most market participants know about the latest support to grain pric- es by Canadian factor, here we see the same trend. Drought is expected to cut Canadian peas crop 2021/22 by ~ 14$ y/y to 4 MMT. Thus, prices are expected to be supported. Here- with, Europe, which is #1 destination for Ukrainian peas, has better crop this year. Season is expected to be challenging. Ukrainian peas: exploring Europe, awaiting India Christina Serebryakova Head of Analytical Department Agricultural Commodities Broker