News From Agro-Industrial Complex

Given the impact of the war on the production cost, the increase in logistics and other expenses, what affects profitability and is not balanced by the price of grain on the global markets, NIBULON revise operation technologies.

The FAO Food Price Index (FFPI) averaged 124.3 points in May 2023, down 3.4 points (2.6 percent) from April and as much as 35.4 points (22.1 percent) from the all-time high it reached in March 2022. The decline in May was underpinned by significant drops in the price indices for vegetable oils, cereals and dairy, which were partly counterbalanced by increases in the sugar and meat indices.

Last week, Ukrainian deminers set an all-time record for clearing agricultural land. Units from the State Emergency Service, the Ministry of Defence, the State Special Transport Service and private mine action operators surveyed 19,485 hectares of land subject to priority inspection and, where necessary, demining.

The losses incurred by Ukraine due to the downtime of ships in the grain corridor queues amounted to more than USD 1 billion, said Mykola Gorbachov, president of the Ukrainian Grain Association (UGA). “This is the money that Ukrainian farmers have not received. This is the money that traders paid to ship owners for standing in line for a very long time,” he explained on FreeDom.