The government expects the profit from agricultural exports to amount to $20B this year.

Tuesday, July 11, 2023
The government expects the profit from agricultural exports to amount to $20B this year.

According to Deputy Minister of Agrarian Policy Taras Vysotskyi, it is likely that Ukraine will be able to harvest approximately 47-50 million tons of grain this year, which is more than was forecast in the spring. Domestic consumption is 16-17 million tons, leaving approximately 30 million tons that can be exported.

According to Vysotskyi, the average income from the export of Ukrainian agricultural products has been in the range of $1.5-$1.7B per month for the past few months. If this export level continues, Ukraine will receive $20B from exports this year.

The situation may change due to fluctuations in international markets, but the official clarified this is a rough guideline. In the domestic market, prices will not change substantially in the coming months because production exceeds consumption by several times.

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