In 2024, Ukraine ranked 6th in the global wheat export market
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Ukrainian wheat exports amounted to $3.74 billion, accounting for 8.2% of global exports and 15.1% of Ukraine’s total agricultural exports.
Key export destinations for Ukrainian wheat:
- EU – 34%
- Indonesia – 13%
- Egypt – 10%
- Algeria – 7%
- Vietnam – 6%
The Top 6 global wheat exporters (including Ukraine) in 2024 were:
- russia – $9.32 billion
- Canada – $7.54 billion
- EU – $7.52 billion
- USA – $5.9 billion
- Australia – $5.55 billion
- Ukraine – $3.74 billion
Key Insights:
- Balance between the EU market and global partners: although the EU is a significant buyer of Ukrainian wheat, Ukraine continues to play a vital role in the food security of Asia and Africa, where the majority of exports are collectively sent.
- Export revenue recovery to 2020 levels: after record figures in 2021 (around $5.1 billion), wheat exports experienced a significant drop to $2.7 billion in 2022. However, despite the war, the industry is reclaiming its lost financial ground. In 2024, the figure increased to $3.7 billion, which is an even better result than in 2020 ($3.6 billion).
- Consolidation of export flows: the total number of importing countries decreased from 64 in 2023 to 53 in 2024. The loss of 11 markets has made trade more focused on stable partners. As a result, 70% of all wheat supplies went to the five key destinations.
Conclusion: maintaining the 6th position globally among exporters highlights the industry’s resilience. Thanks to the successful operation of the Ukrainian maritime corridor, which facilitated the transport of 80% of exported wheat, trade with strategic partners is being established. Ukraine remains an indispensable player in the wheat market, ensuring global food security and providing income for the domestic economy.
Learn more in the full Export Portfolio 2025: https://cutt.ly/rr1U8YTa
