The press-service of “Ukrainian Agribusiness Club” (UCAB) informs that in January-February, 2020 Ukraine has exported agricultural products worth 3,7 billion USD and this is 8% more than in the previous year. At the same time agricultural products imports increased by 16% and now amounts to 1,1 billion USD. In total, the foreign trade balance of agro-food products amounted to 2,6 billion USD, which makes Ukraine a net exporter of these products.

The announcement also reports that in January-February, 2020 the share of agri-food products in the structure of total exports was 46%, while the share of imports was only 12%. In particular, exports of vegetable oil increased by 1/3 (by 230 million USD). This number includes income from sunflower oil exports, which increased by 179 million USD (+26%), rape oil, which increased by 25 million USD (23 times more) and soy beans oil, which increased by 17 million USD (+66%).

Moreover, Ukraine has increased con and barley exports. The exports of finished products has also increased at the expense of sunflower meal (its exports increased by 16%/ by 32 million USD) and cigarettes (their exports increased by 38%/ by 13 million USD). At the same time exports of products of animal origin decreased by 12% (or by 23 million USD). This happened mostly because of the reduction of the dairy products deliveries (reduced by 1/4). It has to be mentioned that Ukraine has increased foreign purchases of plant products by 16% (or by 58 million USD) at the expense of citrus, potatoes and bananas imports. Imports of finished goods also increased by 17% (by 52 million USD) because of chocolate and animal feed imports increase. Imports of animal products increased by 16% (by 27 million USD) due to the purchases of cheese, fish and butter.

Roman Slastion, the general director of the UCAB, pointed out that the rhythmic work of the agroindustrial complex during the quarantine is very important, because the agricultural sector is the main income source in the country’s budget. He has also said that there is no need to restrict foreign trade operations, as it may affect both the economy of the country because of the reduction of foreign exchange earnings and food security.

Earlier, the Deputy Minister for Economic Development, Trade and Agriculture Taras Kachka said that during quarantine, Ukraine would not restrict the export of cereals, sunflower oil, poultry meat and other key export positions.

Reference source:  UNIAN