• 25/07/2024 11:47

Ukraine increased exports of agricultural products by 15% this year – UCAB

Україна цьогоріч збільшила експорт агропродукції на 15% - УКАБ

According to preliminary estimates, in 2023 Ukraine exported 67.5 million tons of agro-industrial products of various types, which is 15% higher than the same figure for the previous year.

As Ukrinform reports, this was reported by the press service of the Ukrainian Agricultural Business Club.

In 2023, Ukrainian exporters of agricultural products faced a number of obstacles. In particular, the Russian side slowed down the work of the “grain corridor”, and then came out with the “grain initiative”; As a result of Russian shelling, the infrastructure of the sea ports of Odessa and the Danube river ports was damaged, neighboring European countries banned the export and transit of Ukrainian agricultural products, and protesters blocked checkpoints on the Ukrainian border.

The association notes that, despite these restrictions, exports of agricultural products increased in physical terms in 2023. However, according to UCAB estimates, revenue from agricultural exports in 2023 will amount to $21.9 billion, which is 8% less than in the past.

UCAB explains that the reduction occurred as a result of a fall in prices for almost all types of agricultural products compared to the previous year (2022 was the year of the highest food prices in the world).

At the same time, the current level of exports is not enough to export the 2023 harvest. If the current pace is maintained, there are risks that significant transitional residues, primarily of grain crops, will remain in Ukraine before the start of the next harvest.

“This situation, in the context of low prices on the Ukrainian market for grains and oilseeds, and expensive export logistics, will further complicate the activities of Ukrainian farmers due to a lack of working capital. That is why it is necessary to increase export volumes through all possible channels so that the entire harvest can be exported by the beginning of the new season,” summed up UCAB analyst Svetlana Litvin.

As Ukrinform reported, at the end of 2022, Ukraine exported agricultural food worth $23.6 billion, which is 15% less than in 2021.


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