2021-11-19T18:15:00+02:00 Economy 2024-09-15T08:12:33+03:00

Ukrainian news

Economy Ministry Forecasts Export Of 60 Million Tons Of Grain In 2021/2022MY

Economy Ministry Forecasts Export Of 60 Million Tons Of Grain In 2021/2022MY

Deputy Minister of Economic Development, Trade and Agriculture - Trade Representative of Ukraine Taras Kachka states that Ukraine plans to export more than 60 million tons of grain in the 2021/2022 marketing year (July 2021 - June 2022).

The Ministry of Economy has said this in a statement, Ukrainian News Agency reports.

"Ukraine continues to increase grain exports to foreign markets. In particular, in the 21/22 marketing year, Ukraine intends to export more than 60 million tons of grain. A serious challenge in this matter is ensuring the throughput of seaports," Kachka said.

According to him, 10 years ago the issue of the throughput of Ukrainian seaports caused lively discussions, but over the past five years their capacity has increased - from 49.3 million tons in 2016 to 81.5 million tons in 2021.

Also, he said, the maritime transport sector operates without delays, while there is a volatility in the price of rail transport.

He noted that in this context, the strategy of the Ukrainian government is aimed at developing infrastructure in order to interest investors in this industry.

Besides, Kachka said that rising global demand amid relaxation of quarantine restrictions raised freight rates to multi-year highs and boosted industry revenues.

"This creates opportunities for additional investments in the latest technologies, digitalization, automation, etc. The introduction of new technologies will contribute to the sustainability of supply chains and logistics, increase the transparency and availability of data, optimize operating and maintenance costs, and meet decarbonization requirements," said the trade representative.

Kachka added that within the framework of the Agreement with the World Trade Organization (WTO) on trade facilitation, Ukraine is introducing a Single Window mechanism for international trade, the AEO institute - Authorized Economic Operator, and a joint transit regime.

He said that the completion of the implementation process of this agreement will simplify the conduct of foreign economic activity by transferring the interaction of business with customs and regulatory authorities to a new format, which will allow Ukraine to enter the list of top countries with the safest and most comfortable business conditions.

As Ukrainian News Agency earlier reported, in September 2021, compared to September 2020, grain exports increased by 56.7% or USD 487.515 million to USD 1,347.777 million, imports - by 48.1% or USD 2.433 million to USD 7.491 million.

In 2020, compared to 2019, grain exports decreased by 2.3% or USD 220.275 million to USD 9,416.899 million, imports - by 1.1% or USD 1,940 million to USD 178.914 million.