Ukrainian agriculture is the driver of the economy, and provides 50% of foreign exchange earnings — Ministry of Agrarian Policy




The agricultural industry is the driver for the whole Ukrainian economy, which provides nearly half of the general foreign exchange earnings to the country, declared the Deputy of Minister of Agrarian Policy and Food of Ukraine, Viktor Sheremeta during his report at the eighteenth international conference Grain & Maritime Days in Odessa on May 30.

To date, Ukrainian agrarians can get the high yield figures of crops, in particular the yield of corn even reaches 10 t/ha. Previously, only the USA demonstrated such results. Also, the productivity of livestock continues increasing in Ukraine. Of course, the issue of logistics still remained unsettled, for example while supplying of goods from Volyn oblast to the ports, it is necessary to cast a compass bypassing a half of Europe, he said.

V.Sheremeta recognized that in 2018 Ukraine harvested the large-scale volumes of corn, which did not bring any significant profits to agrarians, despite the fact that Ukraine produces the grain without GMO. The Deputy Minister stressed that there are some questions to soybeans quality, but all corn areas are GM-free.

According to him, Ukraine managed to cope with the harvested volumes of corn through the record exports, but soybeans demonstrated the large-scale carry-over stocks, caused by cancellation of the VAT refund for the oilseed supplies on foreign markets.

To date, all storehouses are overstocked with the oilseed. In good time, the situation will get better, and develop like in the case of sunflower seed. In particular, due to the duties on the exports of sunflower seed, agrarians receive less profit, because oilseed processors started lowering the prices, since they know that the exports of sunflower seed will not go, V.Sheremeta explained.

At the end of his speech, the Deputy Minister asked a question to the audience: should Ukraine produce so many tonnes of cheap grains? Does the world need the grain?

Experts and participants of the grain market will answer the reporting and similar questions within the Section II "Local grain perspective". Please, follow all conference news and updates from the news line on our websites — GRAIN & MARITIME DAYS IN ODESSA and APK-Inform.