To export Ukrainian grain, foreign traders attract credit lines worth billions of dollars

Traders who finance trade play an important role in the agricultural sector. To export, for example, 50 million tons of grain, Western companies attract credit lines worth $15 billion to Ukraine.

This was stated by Mykola Gorbachev, President of the Ukrainian Grain Association, during a press conference with journalists.

“Due to the fact that banks trust large companies, while their business in Ukraine is not as large as in the world, many companies have 3-5% of their business in Ukraine, so banks can safely issue credit lines to them. Such companies strengthen our economic component in agricultural production,” explained Mr. Gorbachev.

He reminded that there are also financing programs for agricultural producers that provide both fertilizers and seeds, and that this year’s farmers had good grain prices, traders worked around the world and found ways to sell grain, so agricultural producers in Ukraine are making a profit.

“Today, the price of grain delivery to the port reaches $225/t, while logistics has become cheaper, there is a very large supply of railcars, so I think agricultural producers are in a fairly good financial position. Of course, cultivating land close to the front line is risky and difficult, but farmers are trying to work under such conditions,” added the UGA President.

Tags: export, grain, UGA, Ukraine