Ukraine sets new record in grain exports in 2017

Source : 112 Ukraine

The country sold a total of 41.8 million tons of grain overseas in 2017.
16:26, 7 March 2018

Open source

Ukraine has been steadily raising its grain exports every year since 2010, setting a new high in 2017. Particularly, the nation managed to sell a total of 41.8 million tons of grain overseas over the previous year, which exceeded the 2010 figure by three times, and showed a 4% increase against the 2016 level. The press center of the National Scientific Center “Institute of Agrarian Economy” has informed about this, UNIAN reports.


Related: Ukraine aided by demand from Indonesia as wheat exports to India plunge – Bloomberg

Nevertheless, the high grain exports did not lead to outstanding earnings in foreign currency because of low world prices for raw materials. Profits rose by a modest 7%, against 2016 to reach $6.5 billion. Also, Ukraine shipped the highest amount of maize abroad ever recorded – 19.4 million tons, indicating a 12.2% rise from 2016 and a 4.8-fold boost compared to 2010.

Related: Ukraine shall have a record-breaking wheat harvest – USDA

Wheat exports in 2017 stood at 17.3 million tons, remaining almost unchanged compared to the level of 2016, although they exceeded the 2010 indicators by 3.6 times.

"Grain sorghum exports in 2017 rose by 1.6 times compared with 2016, to 148,300 tons, which was almost 4 times higher than in 2010," the press service said. Barley exports over the period under review remained almost at the level of the previous year, that is 4.9 million tons. Rye exports grew by over 4 times from 2016, to 25,000 tons, while those of rice soared by 3% in 2017, to 1,200 tons.

Ukrainian producers exported 43.9 million tons of grain in July 2016 - June 2017, setting a record in the 2016-2017 marketing year, according to the Ukrainian Agrarian Policy and Food Ministry. Revenue from exports of Ukrainian agrarian products in 2017 rose by 16.3% against 2016, to over $17.9 billion.

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