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E-Malt.com Newsletter 16a
April 15 - April 17, 2024
Quote of the Week
One secret of success in life is for a man to be ready for his opportunity when it comes.
Benjamin Disraeli
Currency Rates
Base Currency: US Dollar
on April 17, 2024 |
Base Currency: Canadian Dollar
on April 17, 2024 |
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1 USD = 0.9414 EUR
1 USD = 0.8040 GBP
1 USD = 1.3809 CAD
1 USD = 1.5591 AUD
1 USD = 154.5250 JPY
1 USD = 5.2242 BRL
1 USD = 93.5686 RUB
1 USD = 7.2355 CNY
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1 CAD = 0.7241 USD
1 CAD = 0.5822 GBP
1 CAD = 0.6816 EUR
1 CAD = 1.1289 AUD
1 CAD = 111.8850 JPY
1 CAD = 3.7826 BRL
1 CAD = 67.7488 RUB
1 CAD = 5.2389 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Number of craft breweries reaches an all-time high in 2023 but production down 1% as compared to 2022
...Click here
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USA: Small signs of improvement reported for US beer sales
...Click here
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Japan & USA: Asahi forecasts zero- and low-alcohol drinks to generate half of its beverage sales by as early as 2040
...Click here
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USA: Barley acres estimated to drop sharply this year
...Click here
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USA, NY: Tree House Brewing Company given OK to build new location in Saratoga Springs
...Click here
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USA, VT: Lot Six Brewing targeting an early May opening in Jeffersonville
...Click here
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USA, KS: Force of Nature Brewing hoping to become Johnson County city’s first brewery by August
...Click here
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USA, CA: Camino Brewing Co. is shutting down after six years in business
...Click here
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USA, WI: North Pillar Brewing Co to hold grand opening in Waukesha on April 20
...Click here
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USA, MN: Former Lakes & Legends Brewery to become Brühaven Brewery this summer
...Click here
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USA, CO: Renegade Brewing Co. announces closure in May
...Click here
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World: Barley crop forecast for 2024 increased by 1.1 mln tonnes thanks to improved moisture situation in some key regions
...Click here
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World: Barley trade forecast for 2023-24 reduced to 28.37 mln tonnes
...Click here
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EU & UK: Spring barley planting struggles continue in the region
...Click here
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Australia: Barley crop forecast increased to 11.6 mln tonnes thanks to improved prospects in a number of states
...Click here
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Nigeria: Nigerian Breweries could temporarily shut down two of its nine breweries as part of reorganisation
...Click here
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France: Good/excellent score for malting barley edges down last week
...Click here
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New Zealand: There is hope for hops sector despite downturn, report says
...Click here
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Cameroon: Brewing industry calls for government intervention amid escalating costs
...Click here
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Japan: Struggling sake breweries venture into whisky production
...Click here
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Kazakhstan: Barley harvest may be 16% higher this year
...Click here
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Ukraine: Grain harvest likely to fall to about 52 mln tonnes this year
...Click here
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Graph of the Week
Table of the Week
US Beer Sales, Import, and Export 2013 - 2023
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
15 April
1892 - General Electric Company, forms and is incorporated in New York
1952 - Franklin National Bank issues 1st bank credit card
1973 - Walt Disney Store opens
16 April
1948 - Organization for European Economic Cooperation (EEC) forms in Paris
1986 - IBM produces 1st megabit-chip
17 April
1704 - 1st successful U.S. newspaper published in Boston by John Campbell
1933 - Pres. Franklin D. Roosevelt announces that he will issue an executive order embargoing exports of gold and free the exchange rate of the U.S. dollar to float against foreign currencies
1964 - Ford Mustang is introduced to the North American market
1989 - An all-financial-news TV service premieres, as CNBC airs its first market broadcast
Agenda
April 2024:
21 - 24: Craft Brewers Conference & BrewExpo America 2024 (Las Vegas, USA)
24 - 24: World Beer Cup 2024 (Las Vegas, USA)
27 - 28: Zythos Beer Festival 2024 (Kortrijk, Belgium)
May 2024:
14 - 16: International Beer Strategies Conference 2024 (Porto, Portugal)
20 - 26: Budapest Beer Week 2024 (Budapest, Hungary)
24 - 26: Cerveza Mexico Expo 2024 (Guadalajara, Mexico)
24 - 26: Mondial de la Biere 2024 (Montreal, Canada)
26 - 30: The Brewers of Europe Forum 2024 (Lille, France)
30 - 01 June: Craft Beer China 2024 (Shanghai, China)
June 2024:
06 - 09: Wiener Bierfest 2024 (Vienna, Austria)
09 - 11: Bangkok Brewing Conference 2024 (Bangkok International Trade & Exhibition Centre (BITEC) Bangkok, Thailand)
11 - 13: Brasil Brau 2024 (Sao Paulo, Brazil)
14 - 15: Tallinn Craft Beer Weekend 2024 (Tallinn, Estonia)
August 2024:
08 - 10: VIETFOOD & BEVERAGE - VIETNAM 2024 (Saigon Exhibitions and Conventions Center, 799 Nguyen Van Linh Street, District 7, HoChiMinh City, Vietnam)
17 - 20: World Brewing Congress 2024 (Minneapolis, Minnesota)
23 - 24: Beervana 2024 (Wellington, New Zealand)
September 2024:
02 - 04: 14th Iberoamerican VLB Symposium Brewing & Filling Technology (IBS) (Ciudad de Mexico (CDMX), Mexico)
12 - 14: Stockholm Beer & Whisky Festival 2024 (Stockholm, Sweden)
14 - 15: Bruges Beer Festival 2024 (Bruges, Belgium)
21 - 06 October: Oktoberfest 2024 (Munich, Germany)
28 - 30: Whisky Live Paris 2024 (Paris, France)
October 2024:
03 - 04: Brew Asia 2024 (Suntec Convention & Exhibition Centre, Singapore)
23 - 25: Drink Technology India 2024 (Bombay Exhibition Centre, Mumbai, India)
28 - 31: China Brew 2024 China Beverage 2024 (Shanghai, China)
November 2024:
22 - 22: Drink Japan 2024 (Makuhari Messe, Japan)
26 - 28: Brau Beviale 2024 (Nuremberg, Germany)
February 2025:
07 - 10: HoReCa 2025 (Athens, Greece)
16 - 18: BBTech Expo 2025 (Rimini, Italy)
21 - 23: Finest Spirits 2025 (Munich, Germany)
March 2025:
03 - 07: IBD Asia Pacific Convention 2025 (Hobart, Tasmania)
News Articles
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USA: Number of craft breweries reaches an all-time high in 2023 but production down 1% as compared to 2022
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The Brewers Association (BA) — the trade association representing small and independent craft brewers — released on April 16 annual production figures for the U.S. craft brewing industry.
The number of operating craft breweries continued to climb in 2023, reaching an all-time high of 9,683, including 2,071 microbreweries, 3,467 brewpubs, 3,900 taproom breweries, and 245 regional craft breweries. The total U.S. operating brewery count was 9,812, up from 9,730 in 2022. Throughout the year, there were 495 new brewery openings and 418 closings. Openings decreased for a second consecutive year, with the trend reflecting a more mature market. The closing rate increased in 2023 but continued to remain relatively low, at approximately 4%.
Driven by the growing number of breweries and a continued shift to hospitality-focused business models, craft brewers directly employed 191,421 people in 2023, a 1.1% increase from 2022.
“2023 was another competitive and challenging year for small and independent brewers,” said Bart Watson, vice president of strategy and chief economist of the Brewers Association. “Nevertheless, even as growth has downshifted, small brewers have proved quite resilient, as seen in the increase in number of breweries, relatively low closing rates, and gains in onsite sales and jobs.”
Collectively, small and independent brewers
...More info on site
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USA: Small signs of improvement reported for US beer sales
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While US beer sales have remained weak for considerable time, there are small signs of improvement as witnessed by the latest March data, RMI
...More info on site
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Japan & USA: Asahi forecasts zero- and low-alcohol drinks to generate half of its beverage sales by as early as 2040
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A growing number of health-conscious consumers rejecting beer, wine and spirits represents “a big opportunity”, says the chief executive of Japan’s biggest brewer Asahi, who forecast zero- and low-alcohol drinks would generate half of the company’s beverage sales by as early as 2040, the Financial Review reported on April 15.
Atsushi Katsuki, whose group produces beers including Asahi Super Dry, Peroni Nastro Azzurro and Pilsner Urquell said the company was planning to expand its line-up of alcohol-free beverages in the US, one of the world’s biggest drinks markets, through investments in start-ups.
“It’s a big opportunity as long as we can go down the premium path,” Mr Katsuki told the Financial Times. “Among global players, we have a strong advantage since we have capabilities in both beer and alcohol beverages as well as soft drinks.”
Asahi recently outlined an ambitious target to increase the share of beverages with 3.5 per cent alcohol or less from about 10 per cent last year to 20 per cent of its product mix by 2030. Mr Katsuki said he wanted to bring that to half by as early as 2040 or 2050.
The world’s biggest brewers, including Heineken, Budweiser and Guinness, are racing to capitalise on health-conscious, younger
...More info on site
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USA: Barley acres estimated to drop sharply this year
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In early March, when the U.S. Department of Agriculture asked farmers across the country what crops they planned to put into the ground in
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USA, NY: Tree House Brewing Company given OK to build new location in Saratoga Springs
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A Massachusetts brewing company has been given the OK to build a new location on Route 9 in Saratoga Springs — its first approved location in New York, The Daily Gazette reported on April 12.
In October, Tree House Brewing Company announced its intentions to build a brewery facility that would also have indoor and outdoor seating.
Thursday night, the city’s Planning Board approved the over-20,000-square-foot facility at 3376 Route 9, the former location of Murphy’s Driving Range and Mini Golf Site, which closed in 2013.
Board member Michael King voted against the project. Prior to the vote, he voiced concerns raised by members of the public, including that the site plan does not reflect the city's "intended character" and should "better service people arriving on bike or foot."
The proposed plan in Saratoga Springs calls for having a beer-to-go-only entrance at the front of the building — facing Route 9 — where people would stop and pick up their orders. Those looking to drink on site would park to the side of the building and enter through the rear.
"The Broadway face of the building is a large beer cooler. In a better site plan, this would be the front door, not unlike the
...More info on site
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USA, VT: Lot Six Brewing targeting an early May opening in Jeffersonville
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A new brewpub will liven things up near Smugglers' Notch this spring. Lot Six Brewing is targeting an early May opening in the former Brewster River Pub & Brewery at 4087 Route 108 in Jeffersonville, Seven Days TV reported on April 16.
It's an unexpected project for Justin McCarthy, former Zero Gravity Craft Brewery director of brewing operations; and Adam Shirlock, who will serve as general manager. The two Underhill residents and longtime friends "had sworn off a beer and food [business] when the property came up for sale," McCarthy said. "It's a great spot, so we figured we'd take up the brewpub mantle."
Head chef Jeff Silver — a veteran of Richmond's the Big Spruce and Hatchet — will serve "eclectic pub fare" such as tater-tot poutine and karaage chicken sandwiches, McCarthy said. Beverage director Rob Karmin will develop a mix of "fun things to drink in the mountains," including Old World wines, classic cocktails, boozy milkshakes, mocktails and Rookie's Root Beer floats.
The brewery's first releases include an IPA, an American-style pale ale and a pilsner-style lager. They'll be contract-brewed at Zero Gravity while the Lot Six team installs a seven-barrel brew system.
McCarthy has a longstanding relationship with the Zero Gravity
...More info on site
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USA, KS: Force of Nature Brewing hoping to become Johnson County city’s first brewery by August
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In the early 1900s, a brick building was constructed along West 83rd and Shawnee streets in De Soto.
For years of its life, it housed a garage and auto shop — a retro blue “Ford” sign still hangs above the door. But soon, it’ll go down in history as the Johnson County city’s first brewery, Yahoo! Finance reported on April 12.
Lindsay and Alex Waller are remodeling the building at 33015 W. 83rd St. into Force of Nature Brewing, a new spot that will serve natural, herb-infused brews.
They’re gardeners and have always loved and respected plants, but Lindsay became more interested in natural remedies when her children were young, hoping to cure coughs, diaper rashes and other ailments.
With the brewery, the couple hope to inspire appreciation of the earth (not too difficult in a town home to many farmers, she added).
“It’s all about nature,” Lindsay said. “We’re trying to … just be a really cool spot to hang out.”
Force of Nature’s earthy lagers will include a “Bee’s Knees” brew with dandelion root, an elderberry-enhanced Pilsner called “Equinox” and a citrus and thyme-flavored beer called “Glacial Place.”
To create several of their herbal brews, they add in a strong tea.
A classic light lager will
...More info on site
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USA, CA: Camino Brewing Co. is shutting down after six years in business
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A shuttered brewery will be missed in San Jose.
After a six-year run, Camino Brewing Co. is shutting down, ABC7 News reported on April 12.
Cofounder Allen Korenstein said the difficult decision came down to economics.
They're not seeing the volume of customers they once did pre-pandemic.
"We've seen a big shift you know, people don't come out the way that they used to come out. And our business has been primarily driven by our community and the taproom sales," Korenstein said.
Sunday, April 7 was the last day Camino was open for service.
"If you don't have deep pockets, if you don't have those kinds of sources of investment capital then you really are just carrying it on your own and you know my partner Nathan and I did the best that we could for as long as we could," Korenstein said.
Korenstein said the last two days have been difficult notifying staff Wednesday and making the announcement public on Thursday.
"We didn't know what to expect but we've seen such a large response, people are sad. At the same time, it does make Nathan and I feel like we did something meaningful," Korenstein said.
Anthony Raggio with Drakes Brewing Company and President of the Board of Directors
...More info on site
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USA, WA: Pike Brewing owner buys Fremont Brewing
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Two of Seattle’s major craft breweries are now owned by the same company, with the owner of Pike Brewing acquiring a controlling interest in Fremont Brewing, Seattle Times reported on April 16.
Seattle Hospitality Group, which bought Pike Brewing in 2021, announced the news in a statement Monday. The company, which according to its website also owns stakes in Kenmore Air, Ethan Stowell Restaurants and the Space Needle, said it would funnel resources and support to accelerate Fremont Brewing’s growth.
“Both of our breweries share a deep-rooted passion for brewing exceptional beer,” Fremont Brewing owner Matt Lincecum said in a statement. “Keeping it local is what this partnership with SHG, Pike and Fremont is all about.”
Lincecum and Seattle City Council President Sara Nelson co-founded Fremont Brewery in 2009, and it became the state’s third-largest brewery, according to the Puget Sound Business Journal.
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USA, WI: North Pillar Brewing Co to hold grand opening in Waukesha on April 20
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Glasses will be filled with fresh brew during the grand opening celebration Saturday, April 20 for North Pillar Brewing Co., GMToday.com reported on April 16.
The event will start at 11 a.m. and go until 10 p.m. Saturday at its renovated historic building located at 212 E. North St., Waukesha.
"We couldn't be more excited to show off the transformation of this historic site and can't wait to start serving up some delicious beverages we've been brewing up here," reads a post on Facebook.
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USA, MN: Former Lakes & Legends Brewery to become Brühaven Brewery this summer
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The former Lakes & Legends brewery in the Loring Park neighborhood of Minneapolis has been bought and will become Brühaven Brewery this summer, Bring Me The News reported on April 12.
In a post on LinkedIn, co-founder Glenn Oslin said he and fellow co-founder Alex Doering completed the purchase last week.
"We've acquired Lakes & Legends Brewery in downtown Minneapolis. L&L has been a long time staple in the community and we are honored and excited to continue to support and help leave our mark. We can't wait to bring our vision to life in Loring Park," Oslin said in the post.
Brühaven is expected to open "early summer 2024" according to the Lakes & Legends website.
The former brewery at 1368 La Salle Ave. closed its doors for good at the end of 2023, ending an eight-year run. Lakes & Legends never provided a reason for the shutdown of its taproom, which is located on the ground level of LPM Apartments.
It's a new business venture for Oslin, who worked a corporate job before making a move into the brewing business. Doering has more familiarity with the industry, having worked as a head brewer for The Freehouse off of Washington Avenue in Minneapolis.
Oslin and
...More info on site
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USA, CO: Renegade Brewing Co. announces closure in May
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The wave of recent local brewery closings has pulled another into the undertow, The Denver Post reported.
On Monday, April 15 Renegade Brewing Co. (925 W. Ninth Ave., Denver) announced it will close in just a couple of weeks, on May 3. The social media post suggested the closure came as a surprise to ownership.
Michael Mulcahy, managing partner with Silver Fox Partners, which owns the brewery in the Art District on Santa Fe, declined to elaborate on factors that played into the closure. When reached by phone, he attributed it to “a variety of circumstances, seen and unforeseen.”
One certain thing is that head brewer Jack Meyer is preparing to leave. Meyer, who started by washing kegs at Renegade in 2014, will soon move to Bozeman, Montana, and start a job at Julius Lehrkind Brewing. The move was not about the job, however.
“I always wanted to live in a mountain town so I’m going to do that,” Meyer told The Denver Post. “I’ve found a job, but the catalyst for the move was the opportunity to buy a house with my buddy.”
Founded in 2011 by Brian O’Connell, Renegade was one of the first of a new kind of brewery taproom that kicked
...More info on site
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World: Barley crop forecast for 2024 increased by 1.1 mln tonnes thanks to improved moisture situation in some key regions
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The concern about a smaller barley crop 2023 outcome is getting shifted to the delays being experienced with crop 2024 in Europe, RMI Analytics
...More info on site
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World: Barley trade forecast for 2023-24 reduced to 28.37 mln tonnes
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World barley trade forecast is slightly reduced in USDA’s April report, now expected at 28.37 mln tonnes vs. 28.54 mln in March.
For comparison, the
...More info on site
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EU & UK: Spring barley planting struggles continue in the region
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The struggles continue in getting spring barley planted in western Europe, including the UK, as rainy weather continues to dominate, RMI Analytics reported earlier
...More info on site
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Australia: Barley crop forecast increased to 11.6 mln tonnes thanks to improved prospects in a number of states
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As winter crops (including barley) are about to start seeding across Australia, the much needed rainfall result for a good moisture profile has been
...More info on site
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Nigeria: Nigerian Breweries could temporarily shut down two of its nine breweries as part of reorganisation
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Nigerian Breweries Plc (NB Plc) has indicated plans for company-wide reorganisation as part of strategic recovery plan which entails the temporary shutting down of
...More info on site
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France: Good/excellent score for malting barley edges down last week
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The state of French soft wheat has declined slightly for a second week to remain at its poorest in four years, while farmers have started planting this year’s maize crop, data from farm office FranceAgriMer showed on April 12.
Some 64% of French soft wheat was rated as in good or excellent condition by April 8, down from 65% a week earlier and 94% a year ago, FranceAgriMer said in a cereal crop report.
The rating was the lowest for this time of year since 2020, when French wheat crops were also affected by heavy rain during planting, the report showed.
The good/excellent score for spring barley crops also edged down, to 60% from 61% a week earlier, to stay at the lowest for the time of year in FranceAgriMer records going back a decade.
Sowing of spring barley, which has also been slowed by wet conditions, was 91% complete by April 15. That compared with 86% a week earlier and 100% a year ago, FranceAgriMer said.
Maize planting got under way last week, with 3% of the expected area sown, compared with 9% a year ago.
Market participants are watching to see if a drier spell in France this week helps crops by letting soggy
...More info on site
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New Zealand: There is hope for hops sector despite downturn, report says
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Budding hop growers will need to look for export markets if they want to scale up from pilot plots, a new report into opportunities for Taranaki and New Zealand growers says.
Despite a current oversupply that could take up to four years to correct, the long-term outlook for Taranaki’s hops sector is looking hopeful, an industry paper released by Venture Taranaki has concluded.
The regional development agency’s Branching Out Hops: Scale up Opportunities industry paper showed there was an opportunity for Taranaki and New Zealand growers to claim more of the global market by producing high-quality product and unique flavour profiles as well as developing supply-chain efficiencies and processing innovations.
Growers would need to find export markets given that just one hectare of plants was likely to produce 1800kg of dried hops, considerably more than most New Zealand breweries would use in a year.
After rapid growth between 2010 and 2020, the craft beer market locally and globally had peaked, which led to an increased supply.
Inflation and a generally weak economic environment have also resulted in lower growth and high levels of uncertainty in the craft brewing industry.
“This period of downturn is typical in primary producing sectors, and the million-dollar question is always: when
...More info on site
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South Korea: Beer imports drop 20% in Q1 2024
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Korea's beer imports dropped 20 percent in the first quarter from a year earlier, according to data on April 17, as beer purchases from China plunged following the release of a viral video showing a man urinating into a tank at Tsingtao Brewery last year, Yonhap News reported.
The country imported $45.16 million worth of beer products in the three months ended in March, down from $56.28 million during the same period of last year, data from the Korea Customs Service (KCS) showed.
Beer imports from China plummeted 62 percent on-year to $4.78 million during the cited period.
But Japanese beer brands apparently benefited from the urination incident at Tsingtao. Beer shipments from Japan more than doubled to $14.93 million in the first quarter from $6.63 million a year ago, the KCS said.
For the whole of 2023, beer imports from Japan topped other import brands with $55.5 million, jumping from the previous year's $14.5 million.
Japanese beer imports ranked first with $78.3 million in 2018, but they nosedived to $39.7 million in 2019 due to Japan's restrictions on exports to Korea of key industrial materials for the production of semiconductors and displays.
In 2019, Japan also removed Korea from its list of countries given preferential
...More info on site
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Cameroon: Brewing industry calls for government intervention amid escalating costs
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During the March 21 inauguration ceremony for the extension of the Yaoundé factory, the CEO of Société Anonyme des Boissons du Cameroun (SABC) addressed several government members, including Commerce Minister Luc Magloire Mbarga Atangana, Business in Cameroon reported on April 15.
"The resilience we have shown for months, and the resilience demonstrated by the entire sector, is reaching its limits (…) While it's true that we are the undisputed leaders in our market and are fully committed to developing and maintaining our top position, we are not invincible," he said hinting that the current situation could impact the operations of the Castel Group subsidiary in the country.
He explained that for the past three years, the beverage industry has faced an "inflationary tsunami" on raw materials, consumables, fuel, gas, electricity, and wages, yet beverage prices have not increased in Cameroon. "This country is unique in that respect," he claimed. In just two years, SABC has seen a more than CFA33 billion increase in input costs: CFA16 billion for the 2021-2022 period and CFA17 billion for 2022-2023. With over 50% of its revenue already going to the state in the form of taxes and duties (VAT, excise duties, customs duties, corporate tax…),
...More info on site
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Japan: Struggling sake breweries venture into whisky production
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Sake breweries across Japan are venturing into whisky production, a move one industry expert described as their “last trump card” for survival, Asahi.com reported on April 15.
Consumption of rice wine continues to decline, while Japanese whisky has grown in popularity, especially among foreigners.
Hopes are also high that the shift to whisky will help revitalize regional communities.
Funasaka Sake Brewery, based in Takayama, Gifu Prefecture, in spring last year opened its whisky-producing Hida Takayama Distillery on the former site of Takane Elementary School, which closed in 2007.
Two pot stills for batch distillation of spirits are installed on the stage in the former gymnasium. Some of the whisky barrels are stored in what used to be the principal’s office.
The brewery’s production goal is around 40,000 liters of whisky in its initial fiscal year. The spirit is expected to hit the market in 2026 at the earliest because the maturation process takes at least three years.
The undertaking has enlivened the community.
The beloved elementary school is now a local heirloom under the new role of a whisky distillery.
Nissin Furniture Crafters Co. in Takayama has produced the Hida Barrel, an oak cask for whisky maturation now used by Hida Takayama Distillery.
It is made with a wood-bending
...More info on site
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Kazakhstan: Barley harvest may be 16% higher this year
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Gross barley harvest in Kazakhstan this year may be 16% higher than last year and reach 3.25 mln tonnes. This forecast was announced during the international conference Chinese Grains&Oils Congress in Shanghai by Daulet Uvashev, director of Harvest Kazakhstan.
He specified that the growth of barley harvest is expected primarily due to an increase in crop yield by 18% to 13 centners per ha. At the same time, barley planted areas are expected to decrease slightly (by 2%, to 2.5 mln ha).
According to the expert, the export of this grain in the current season may reach 1.5 mln tonnes (+15% compared to the previous season).
At the same time, in 6 months of 2023/24 MY (September-February), Kazakhstan has already exported about 700 thousand tonnes of barley. China ranks first in the ranking of the top importers of the product - the country supplied about 535 thousand tonnes of Kazakh barley.
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Ukraine: Grain harvest likely to fall to about 52 mln tonnes this year
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Ukraine’s grain harvest is likely to fall to about 52 million metric tons this year from 58 million tons in 2023, mostly due to an expected smaller sowing area, the farm ministry said on April 16 in its first official harvest forecast for 2024, Reuters reported on April 16.
The ministry said last month that the sowing area for corn was likely to drop 4.5% to 3.863 million hectares this year from 4.043 million in 2023.
Farmers may also reduce the area sown for spring wheat and sunflowers, but are tipped to increase it for spring barley and soybeans.
The ministry’s crop forecast shows the country could harvest 27 million tons of corn, 19 million tons of wheat and 5 million tons of barley this year.
Ukraine has not published final 2023 harvest results. The latest figures put the wheat harvest at around 22.5 million tons, with farms also harvesting 5.9 million tons of barley and 28.2 million tons of corn.
The ministry said farmers this year might thresh 4 million tons of rapeseed, 12.5 million tons of sunseed and 5.2 million tons of soybeans.
The ministry has said farmers may sharply increase the area sown for soybeans this year to 2.199 million hectares from 1.780
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