Ukraine became the second country in the world in terms of foreign exchange earnings from grain exports - expert

In 2019/20 MY, Ukraine earned $ 9.6 billion in grain supplies and became the second country in the world in foreign exchange earnings from grain exports. This was announced on June 25 at a press conference by the head of the Ukrainian Grain Association Nikolai Gorbachev.

“Ukraine has not bypassed the United States alone, but for example, the United States grows 350 million tons of corn and exports more than 50 million tons. Ukraine this year produced 35 million tons of corn and exported 30 million tons. There is still room to grow. But we have already left behind such large countries as Russia, Argentina, Brazil, ”he said.

According to N. Gorbachev’s forecasts, the picture of grain exports will not globally change in the next season, and Ukraine will remain in the lead.

The head of the UGA also noted that Ukraine could enter new grain sales markets and increase supplies to Europe, where this year there was a low yield.

“The main promising market for Ukraine will be Asia, especially China and Indonesia. A new generation is growing up there that consumes less rice, but more wheat; in addition, there is a positive demographic situation. Europe is also a promising area, where last year we exported 10 million tons of corn, and a year earlier - 14 million tons. This season, Europe did not have a very good harvest, so we can also expect an increase in exports, ”said the expert.

According to N. Gorbachev, Ukraine produces three times more grain than it consumes, and in the coming years it is unlikely to be able to increase domestic consumption, therefore it can potentially increase export and income in foreign currency.