Ukraine may lose 21-27 billion dollars from the stop of grain exports

Ukraine is a major player in the international market. In terms of exports, our country is one of the five largest exporters of grain in the world.

Nikolay Gorbachev, president of the Ukrainian Grain Association (UGA), told AgroTimes in a column.

According to him, Ukrainian farmers export ¾ from production.

“Domestic grain consumption is only 20-25%. This means that outside our country we feed three times more people than the population of Ukraine, “said Nikolay Gorbachev.

He stressed that Ukraine is creating competition and liquidity in international markets.

“We offer high quality grain and at the same time we supply at world prices. That is, we are involved in world economic processes. If we do not export grain, other countries will, of course, make up for the shortfall. But in this case, it will rise in price by at least 20%, and not every country can afford to buy it. This could provoke famine in some countries with underdeveloped economies, “Nikolay Gorbachev added.

According to the expert, the stop of exports of Ukrainian grain will lead to the loss of 50% of all foreign exchange earnings in our country. In absolute terms, this is from 21 to 27 billion dollars.

UkrAgroConsult

Tags: export, grain, UGA, Nikolay Gorbachev, Ukraine