China became the main buyer of Ukrainian agricultural products in 2021

In the first 9 months of 2021, China became the largest buyer of Ukrainian agricultural products, and the total volume of trade in agricultural products between Ukraine and Asian countries increased by 20%. This was announced by Deputy Director of the National Research Center “Institute of Agrarian Economics” M. Pugachev.

Ukraine managed to increase its trade surplus to 8 8 billion, primarily due to an increase in domestic exports by 1 1.5 billion, while imports of agricultural products from Asian countries to Ukraine increased by only 0 0.1 billion.

The main buyers of Ukrainian agricultural products this year were China, India, Turkey, Indonesia, Saudi Arabia, Iran, Iraq, Pakistan and Israel, whose total share in the export of domestic agricultural products to Asian countries was 80%.

Asia remains the largest market for agricultural products for Ukraine, and the commodity structure of exports to this region generally corresponds to the general one. Ukraine exports mainly cereals and oilseeds, vegetable oils, food processing residues and meat products to Asian countries, and imports palm oil, oilseeds, tea, coffee, and exotic fruits from there.

According to forecasts of experts of the Institute of Agrarian Economics, in 2021, the export of agricultural products from Ukraine to Asian countries may exceed last year’s record рекорд 10.9 billion, which is confirmed by the incessant increase in the supply of domestic agricultural products in this direction over the past 10 years. Moreover, Ukraine has not yet fully used the total potential of the Asian market to export its goods, although the demand for food in this region is actively growing.

GrainTrade 

Tags: Ukraine, China, agricultural products