Ukraine: no reasons to ban grain exports — expert




There are no threats for the Ukrainian food security, and there are no reasons for banning the exports of grains, declared the Head of the Committee on agrarian and land policy of the Verkhovna Rada of Ukraine, Mykola Solsky, on April 4.

Ukraine not only completely meets its own needs in provision with all socially important food products, but is also one of the global leading exporters of wheat, corn, barley, and soybeans, he said.

M.Solsky noted that Ukraine produces 28.3 mln tonnes of wheat, and consumes nearly 8 mln tonnes of the grain. In particular, as of April 1, 2020, Ukraine already exported 17.7 mln tonnes of wheat. Therefore, until the end of June there will be available nearly 2.5 mln tonnes of wheat for exports.

The people`s deputy explained that the situation is similar with the market segments of other grains, such as corn.

As of April 1, on the domestic market there were available 8.5 mln tonnes of corn, in terms of the required domestic consumption by the end of the current marketing year at 1.8 mln tonnes, and the necessary carry-over stocks of 1 mln tonnes. As a result, in the period of April-June of 2020 Ukraine has nearly 5.7 mln tonnes of corn available for exports. The same is true for the segment of barley: in April-June, the available stocks for exports total 0.7 mln tonnes, M.Solsky explained.

He recalled that the agricultural sector generates nearly 40% of foreign exchange earnings at the expense of the exports, which is one of the factors that stabilizes the financial sector of the country.