- Export growth: March 2025 Ukrainian grain exports rose 7.9% year-on-year to 3.633 million tonnes.
- Cumulative lag: Season-to-date exports at 26.058 million tonnes remain 6.5 million tonnes below last year’s pace.
- Corn-driven flows: Corn accounted for 75% of March shipments, totaling 2.709 million tonnes.
- Freight implications: Strong Q2 export programs may tighten Black Sea freight capacity and support freight rates.
Ukrainian Grain Export Overview
Ukraine exported 3.633 million tonnes of grain in March 2025, a 7.9% increase versus 3.367 million tonnes in March 2024, according to the Ministry of Economy. Since the start of the 2025/26 marketing year, cumulative exports have reached 26.058 million tonnes as of April 1, based on State Customs Service data.
March 2025 Grain Shipments by Crop
| Crop | March 2025 Exports (tonnes) | Share of March Volume |
|---|---|---|
| Corn | 2,709,000 | 75% |
| Wheat | 870,000 | 24% |
| Barley | 49,000 | 1% |
Season-to-Date Grain and Flour Exports
| Product | Season-to-Date Exports (tonnes) |
|---|---|
| Corn | 14,257,000 |
| Wheat | 10,017,000 |
| Barley | 1,404,000 |
| Rye | 200 |
| Flour (total) | 49,800 |
| of which Wheat Flour | 48,500 |
Market and Freight Analysis
The year-on-year rise in March exports underscores resilient demand and sustained freight flows from Ukrainian ports. However, total seasonal exports remain 6.5 million tonnes below last year’s 32.55 million tonnes, signaling a tighter overall supply profile from the Black Sea region.
Robust March corn shipments point to active pre-harvest movement as exporters clear stocks before the 2026 crop enters the market. This dynamic is likely to keep pressure on available freight capacity through Q2, supporting freight rates on remaining Black Sea grain cargoes even as cumulative export volumes lag last season.
Source: Market Data
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