Thursday, 2 March 2017

Ukraine EU exports increase

Exports of Ukrainian agricultural products to the EU increased by $68.2 million in 2016.

The total value of agricultural products exported to the EU was $4.12 billion, nearly 27% of Ukraine's total agricultural exports (Asia accounts for nearly 46%).

As you’d expect, grain (corn, wheat, barley) was the lion’s share of exports, worth $1,279 million closely followed by oil (from sunflower, canola, soybean) worth $1,185 million and the oilseeds (canola, soybeans, sunflower) worth $587 million.

The increase in exports was mainly due to an increase in supplies of sunflower oil and seeds, soybean meal and sugar.

Increases in grain exports will likely put a strain on UK Brexit and follow on trade negotiations; as the UK on the EU's western border will more than likely end up with tariffs, Ukraine grain on the eastern border is being welcomed in with open arms.