In 2019/20 MY, Ukraine earned 9.6 bln USD from the export of grains and turned to be the second country in the world in terms of currency gain from grain export, declared the President of the Ukrainian Grain Association, Mykola Gorbachov on June 26.
“The USA is on the first place. However, the USA produces 350 mln tonnes of corn and exports more than 50 mln tonnes. Ukraine produced 35 mln tonnes of corn this year and exported 30 mln tonnes. It has perspectives for growth. But we already surpassed such large countries as Russia, Argentina, Brazil”, - he said.
M.Gorbachov expects that Ukraine will be among the leaders again in the coming season.
He pointed out that Ukraine will be able to enter the new markets as well as increase the supply of grains to Europe that has low crops this year.
“Asia, particularly China and Indonesia, will be the main promising market for Ukrainian grains. New Asian generation consumes less rice and more wheat. Moreover, there is a positive demographical development. Europe will remain the high-potential destination as well. Ukraine exported 10 mln tonnes of corn to Europe last year and 14 mln tonnes – two years ago. This year Europe had low grains production so we can expect higher import from Ukraine”, - the expert added.
M.Gorbachov said that the production of grains in Ukraine exceeds threefold the consumption and the country is unlikely to be able to increase the inner consumption in years ahead. Thus, it could increase the export and incomes in foreign currency.
