Agrarian Policy Ministry: Grain market determines pace of Ukraine’s economic development

Nowadays, the grain market determines the pace of development of the agro-industrial complex and the economy of Ukraine as a whole.

"Nowadays, the grain market is key and strategic in the country's agriculture. It determines to a considerable degree the pace of development of the agro-industrial complex and the economy as a whole, guarantees the food security of the country. Grain crops form more than a quarter of the total agricultural production," Deputy Agrarian Policy and Food Minister of Ukraine Olena Kovaliova said at the 16th XVI International Conference “BLACK SEA GRAIN 2019”, the press service of the Ministry reports.

The world food market is currently under pressure from three basic factors: population growth, income growth and intensive urbanization, Kovaliova said.

"As a result, global demand for grain, the basis of food and feed ration, has grown by 50% over the last decade. Ukraine is one of few countries in the world that have an opportunity to increase agricultural production, boost its export potential and meet global needs," the deputy minister noted.

According to her, the grain production in Ukraine has not fallen below 60 million tonnes over the past five years. In 2018, it hit a record high of 70.1 million tonnes. 2018/2019 marketing year can become a record one for the export of grain crops - about 49 million tonnes. To date, more than 39 million tonnes have already been exported.

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