Grain and Oilseeds
The grain sector plays an important role in the agrarian sector of Ukraine and has great potential for development. Thus, according to market operators, grain exports from Ukraine can reach 70 million tons in the coming years.
The production, processing, and export of grains and oilseeds make significant contributions to the budget and are important sectors for national employment. In addition, they play a crucial role in guaranteeing the food and financial stability of the state.
Last year, Ukraine exported a record volume of cereals – 50.4 million tons. In this marketing year, exports of domestic cereals have already amounted to 45.3 million tons (as of March 26). In total, Ukraine plans to deliver 54.8 million tons of grain to international markets this marketing year.
The European Business Association announces that today, on March 30, the maximum export volumes of wheat for the 2019/2020 marketing year was approved. According to the annex to the Memorandum, the maximum volume of wheat exports was agreed at the level of 20.2 million tons (for all classes).
This document is one of the factors in maintaining the balance between domestic grain consumption and export opportunities. Stability and predictability are key priorities for Ukraine and one of the main factors of national and food security.
For the reference:
A Memorandum of Understanding between the Ministry of Economic Development, Trade and Agriculture of Ukraine (MinRETS) and the grain exporting companies in the 2019/2020 marketing year was signed on 3 October 2019. This document includes interaction mechanisms for the participants of the grain market, exchange of information on grain export prospects, monitoring the functioning of the grain market.