Record-high grain yield stabilized hryvnia — NBU

A record-high grain yield for all the years of independence of Ukraine provided foreign currency revenue from agricultural exports and thus strengthened the national currency — hryvnia. This was informed by Oleg Churiy, Deputy Governor of the National Bank of Ukraine (NBU), EPravda reports.

“This year, a record crop is harvested in Ukraine for all the years of independence. Grains harvest reached 70 million tons, and together with oilseeds it is 100 million tons,” he noted.

According to the Deputy Governor of the NBU, from the beginning of 2018, strict monetary policy, prudent fiscal policy and export of agricultural products contributed to the strengthening of hryvnia.

In January-October 2018, foreign trade turnover of agricultural and food products between Ukraine and the EU countries increased by 7.1% compared to the corresponding period in 2017 and amounted to USD 6.9 billion.

IC UAC according to UkrAgroConsult