According to YouControl reports, the total revenue of Ukraine’s ten largest grain traders reached approximately UAH 180 billion in 2025—a decline of UAH 38.8 billion compared to the previous year. Despite significant turnover, the industry's financial health has deteriorated, with six of the top ten players reporting net losses. This was reported by Dengi.ua , citing data Delo.ua.
International traders recorded the most significant revenue contractions. ADM Ukraine saw its turnover drop by UAH 13.7 billion, Cargill by UAH 11.5 billion, CFG Trading by approximately UAH 6 billion, Bunge by over UAH 5 billion, and Louis Dreyfus Company Ukraine by UAH 4.2 billion.
The primary factor behind the revenue slump was a sharp decrease in export volumes. In the 2024/2025 season, Ukraine supplied approximately 40.6 million tons of grain to foreign markets. However, for the 2025/2026 marketing year, exports fell by an estimated 20–25% (roughly 6–7 million tons). Given that grain traders' income is directly tied to sales volumes, this reduction severely impacted their financial performance.
Profitability has also come under immense pressure. The most significant losses in 2025 were incurred by Nibulon (–UAH 1.8 billion) and ADM Ukraine (–UAH 1.2 billion). Analysts point to the industry’s traditionally thin margins as a core cause. Pavlo Martyshev of the KSE Agrocenter notes that even when grain is priced at $250 per ton, a trader’s net profit may only amount to roughly $1 per ton.
Increased market competition has further aggravated the situation. The multinational "ABCD" group (ADM, Bunge, Cargill, and Louis Dreyfus) has aggressively re-entered the market, while large Ukrainian agricultural holdings continue to expand. This has resulted in a three-tiered competitive landscape: global corporations, large local players, and small-to-medium traders.
This competitive pressure is most visible in profitability. Martyshev explains that large companies can afford to sell products at minimal profit or even at a loss to secure market share and retain customers. Furthermore, corporate KPIs are often tied to sales volumes rather than net profit, incentivizing high-volume, low-margin trades.
Rising costs along the supply chain have acted as an additional negative factor. Farmers are withholding sales due to low market prices, while logistics costs are rising amid potential Ukrzaliznytsia tariff hikes. Additionally, port transshipment costs have reached $10–11 per ton, while global prices remain depressed due to international overproduction and fierce competition.
Consequently, traders are caught in a "pincer" of high domestic prices, reduced harvests, weak global market conditions, and escalating logistics expenses.
In response, major companies are pivoting their strategies. Volodymyr Slavinskiy, Nibulon’s Trading Director, noted that the company is focusing on diversifying its markets and product portfolio while enhancing partnership efficiency. The goal is to transform from a traditional Ukrainian exporter into a diversified global player.
Amidst this challenging backdrop, Eridon stands out as a notable exception. The company managed to increase its revenue to UAH 35.6 billion, securing a leading market position. This growth was driven by aggressive business diversification; in addition to trading, Eridon is expanding into agricultural distribution and investing in logistics, processing, and specialized service solutions for farmers.