News

The FAO Food Price Index (FFPI) averaged 131.2 points in January 2023, down 1.1 points (0.8 percent) from December, marking the 10th consecutive monthly decline. With this latest decline, the index has fallen 28.6 points (17.9 percent) from the peak it reached in March 2022. The drop in the index in January was driven by declines in the price indices of vegetable oils, dairy and sugar, while those of cereals and meat remained largely stable.

In January, compared to December, Ukraine reduced the export of agricultural products by 24% to 5.5 million tons, in particular, corn - by 27% to 2.6 million tons, wheat - by 19% to 1.3 million tons, as a result of deliberate blocking by Russian inspectors inspection of ships and the lack of energy supply in the Black Sea ports during the last 10 days due to shelling of the energy infrastructure of Odesa.

Against this background, the purchase prices for corn in the Black Sea ports fell from $210-212/t to $200-205/t, as the additional costs of traders for idleness of vessels waiting in inspection queues rose to $30-40/t.

Amid the war, the EU has become Ukraine’s main trading partner, accounting for more than 55% of mutual trade. Now it is important for us to maintain the pace of trade development and extend autonomous trade measures in the form of complete elimination of duties, as well as to extend agreements on road transport permits. This was emphasized by Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine, at the EU-Ukraine Summit.

The Minister of Agrarian Policy and Food of Ukraine Mykola Solskyi called on EU representatives to support Ukrainian farmers and facilitate the spring sowing campaign. He stated this during his speech at a joint meeting of the Cabinet of Ministers of Ukraine and the European Commission College, which was held in Kyiv for the first time.