NBU Forecasts More Grain and Less Oilseeds

In its October report, the National Bank of Ukraine updated the forecast for the harvest of agricultural crops for 2025. In particular, the expected volume of grain and legume production has been raised to 61.5 million tonnes — which is 3.6 million tonnes more than in the July report. At the same time, the estimated harvest of oilseeds has been lowered to 19.3 million tonnes, compared to the previous 21 million tonnes.

The NBU forecasts that grain and legume production volumes will continue to grow in 2026–2027. This is due to increased productivity in the agricultural sector and the expansion of maize (corn) and other crop sowings in regions less vulnerable to climate change. For 2026, the grain harvest forecast has been raised to 62.9 million tonnes, and for 2027 — to 63.5 million tonnes.

In contrast, the outlook for oilseeds remains less optimistic. Due to climate risks, as well as the consequences of the destruction of the Kakhovka HPP, which disrupted irrigation systems in Southern Ukraine, a decrease in yield is expected. Furthermore, the security situation in frontline regions complicates the sowing campaign for the 2026 harvest and slows down the demining of agricultural land. As a result, the forecast for oilseeds in 2026 has been lowered to 21.4 million tonnes, and in 2027 — to 22.2 million tonnes.

Separately, the report states that the livestock sector continues to negatively affect the added value in agriculture. The reason is the reduction in livestock population, with the exception of poultry farming.

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