Ukraine’s Deputy Minister of the Development of Economy, Trade, and Agriculture and Trade Representative Taras Kachka believes that the demand for Ukrainian grain in the world market is growing due to the ban on grain exports by Russia and Argentina.
Kachka announced this on his Facebook page, the Ukrainian News Agency reports.
"This (the export ban) can create additional pressure not only on the price, but also on the quantitative demand for Ukrainian products," Kachka wrote.
According to him, the actions of Russia and Argentina have an economic justification and are aimed at creating better conditions for their livestock breeders.
Supplies from Australia and Argentina were previously expected to balance the demand for Ukrainian grain in the global market in the 2020/2021 fiscal year (July 2020-June 2021), allowing Ukraine.
However, according to Kachka, the situation will be more difficult this year. That notwithstanding, he is confident that the government and the market will cope.
According to him, the number of requests for cooperation on food security from Ukraine’s foreign partners has increased significantly.
As Ukrainian News Agency earlier reported, the actual volume of grain exports from Ukraine from the beginning of the 2020/2021 fiscal year to January 6 is 26.407 million tons, which is 16.2% or 5.1 million tons less than the export volume in the same period of last year.
The Ministry of the Development of Economy, Trade, and Agriculture does not intend to limit the volume of grain exports in the 2020/2021 fiscal year.
Ukraine increased the exports of grain and flour by 13.5% or 6.8 million tons to 57.2 million tons in the 2019/2020 fiscal year, compared with the 2018/2019 fiscal year. This is a record.
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