Agricultural Markets in Russia and Ukraine

Russia and Ukraine are significant producers and exporters of several commodities including wheat, corn, sunflower oil, and fertilizer. Production or marketing developments in these countries have the potential to impact global agricultural markets, including the U.S. Accordingly, ERS’ Outlook and Trade research programs closely monitor agricultural markets in Russia and Ukraine as part of the ERS mission to inform and enhance public and private decision making. The following page provides a summary of key agricultural markets and links to selected ERS analyses of agricultural production, trade, and policy in Russia and Ukraine.

Ukraine and Russia export agricultural and chemical products to many trading partners around the globe. Ukraine’s corn exports are concentrated—with more than one-third destined for China. Russia is a leading exporter of wheat. In 2020/21, the country supplied numerous markets with Egypt and Turkey representing approximately 40 percent of wheat export sales.  

 

Related ERS Reports and Data

  • Oil Crops Outlook: April 2022: Special Article (See page 5): Sunflower Oil and Its Contribution to the Global Vegetable Oil Market: "The events in Ukraine escalated an already tight vegetable oil market. Global vegetable oil prices skyrocketed in the last 5 weeks to record levels, further escalating inflation and growing concern for food supplies in many countries. The conflict between Ukraine and Russia has significantly increased the uncertainty of the agricultural supply and demand conditions in the region and globally."
  • Wheat Outlook: April 2022: (See page 3): International Outlook: "As the Russia-Ukraine conflict continues, wheat prices remain elevated resulting in lower imports for 2021/22 as countries find a balance between rationing demand and tightening their stocks.
  • Feed Outlook: March 2022: Russian Incursion into Ukraine Disrupts Global Grain Markets: “Russia’s recent military action in Ukraine significantly increased the uncertainty of agricultural supply and demand conditions in the region and globally. The March World Agricultural Supply and Demand Estimates (WASDE) report represents an initial assessment of the short-term impacts, as a result of this action.”
  • Wheat Outlook: March 2022: (See page 3) U.S. Wheat Prices Surging: “Wheat prices are surging globally in the wake of the conflict between Russia and Ukraine. Prior to this development, prices were already elevated, influenced by relatively tight supplies in key exporting countries.”

 

USDA Resources

 

Other Resources