Ukraine's agricultural exports in May fell by 11% to around 7.4 million metric tons versus April, Ukrainian farm business association UCAB said late on Monday.

"Some farmers hold on to the commodity until the end of the season to get a better price. In addition, there is a reduction in stocks. All these factors combine to reduce export volumes," the association said in a statement.

Grain exports fell by 12% in May while shipments of vegetable oils rose by 15%, UCAB said.

Overall agricultural export volumes in May included 5.5 million tons of various grains, 207,400 tons of oilseeds, 763,700 tons of vegetable oils, 509,900 tons of meals and 409,800 tons of other goods.

The agriculture ministry has not yet published export data for May.

(Reporting by Pavel Polityuk; editing by Jason Neely)