News

In January 2016, Ukraine increased the exports of corn to the European Union by 84.8% compared with the index in the same month of 2015, declared the Ministry of Economic Development and Trade of Ukraine on March 26. According to the announcement, the exports of Ukrainian sunflower oil to the EU grew by 72.5%, rapeseed oil - up 6%, sugar - up 3.2%, eggs without shells - up 2.1%.

In January-February 2016, the production volumes of agricultural commodities in Ukraine decreased by 2.1% compared with the same period in 2015 at the expense of fall of animal husbandry commodities, announced the State Statistics Service of Ukraine on March 14.

Weak grain prices are here to stay, potentially long-term, European Union officials said, as they forecast a further rise in the bloc's wheat inventories in 2016-17 despite weaker harvest prospects. Short term, "there are no fundamental reasons for [cereals] price levels to change," the European Commission said, citing large inventories.Grain stocks in the EU, the top wheat producer, and worldwide are "ample, and the moderate effect of El Niсo on markets is already incorporated in price expectations.

Ukraine’s hard-won Association Agreement with the European Union includes a free-trade deal that should open doors into markets long-closed to Ukrainian exporters. But to take advantage of the new opportunities, Ukraine’s exporters are going to have to make changes in marketing, business culture and production.