March 4 2014, 09:10 Source: APK-Inform Views: 1075

Agricultural sector is the engine for economic development of Ukraine – expert

The stable and steady development of the agricultural sector of Ukraine facilitates improvement of the economic situation in the country, declared Alexei Ergiev, Advisor to Oleg Bakhmatyuk, СЕО and Chairman of the Group of companies UkrLandFarming, on March 3 during his speech at the first international conference "Ukrainian grain to the world!" in Hong Kong.

To date there are several factors contributing to development of the agricultural sector of Ukraine, including the increased demand for agricultural products in terms of growing of protein consumption, and increasing of biodiesel production. In turn, the limited yield potential and the climate change, make barriers to the further development of the reporting trend, he said.

A.Ergiev also noted that in 2013 the Ukrainian agricultural sector showed 13% growth, which was the highest index among other industries. At the same time, the share of income in foreign currency from the exports of Ukrainian agricultural products totaled 25% of the total supply of commodities on the world market.

The most profitable sectors of the agricultural industry include the production of sunflower seed (up 46.8% in 2012), and the livestock industry (up 53% in 2012), in particular pig breeding (up 2% in 2012), specified the expert.


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