Volume of agricultural production in Ukraine up 6% year-over-year in Q1, according to government statistics; production volume at agricultural enterprises up 11.1%, volume at households down 1.3%

Nevin Barich

April 16, 2014 (IntelliNews) – In Q1, the volume of agricultural production in Ukraine rose by 6% y/y, the State Statistics Service has announced. The volume of production at agricultural enterprises grew by 11.1% and at households- by 1.3%. In March alone, the volume of agricultural production increased by 21.8% m/m and 5.6% y/y. In 2013, the agricultural production in Ukraine rose by 13.7% y/y.

The volume of export of agricultural products fell by 4.95% to USD 17.3bn in 2013, the Agricultural Ministry has announced. Agricultural products accounted for 27% of the country's total exports last year. Imports of agricultural products declined by 8.6% y/y in 2013. Grain crops accounted for nearly 34% of exports, sunflower oil accounted for 20%, and oil seeds accounted for more than 11%. The largest importer in 2013 was Asia, which accounted for more than 34% of the exports. The European Union accounted for more than 27% and CIS countries accounted for more than 21%. Ukrainian agricultural export increased by nearly 40% reaching USD 17bn in 2012.

Farm produce exports from Ukraine will increase by 11-18% y/y to USD 20bn in 2014, the president of the Ukrainian Agrarian Business Club Aleks Lissitsa has said. The exports may increase due to growth of Ukraine's positions in the market of the South Asian countries in terms of exportation of maize and in the markets of India and Pakistan (sunflower oil). He also noted that thanks to the investments in modernization, increase of productivity and efficiency, technical support, new technologies, over the last five years, the agricultural enterprises will be able to harvest 50-55mn tonnes of crops.

Ukraine ranks among world's largest producers of sunflower oil, a major global producer of grain and sugar, and future global player on meat and dairy markets. The protection of agricultural sector remains the top priority for the government.

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