PRN: Ukraine Joins World's Top 3 Grain Exporters
Ukraine Joins World's Top 3 Grain Exporters
KYIV, Ukraine, December 14, 2011 /PRNewswire/ --
The Minister of Agrarian Policy and Food of Ukraine Mykola Prysyazhnyuk stated that Ukraine had improved its grain exporting status. The country upgraded its position on the global grain market due to the improved grain harvest and reduction of limitations on export millage contributing to the remarkable upsurge in Ukrainian grain export.
In 2011 Ukraine cropped the record amount of grain in twenty years since declaring independence. The unprecedented harvest - over 55 million tons of grain - as well as the removal of the export taxes and quotas contributed to the export boost in 2011. The decision of the Ukrainian government to refrain from limiting the country's grain export in the future went public last week.
Last year Ukraine took the fourth spot on the list of world's leading grain exporters, following the U.S., EU, and Canada. The U.S. Department of Agriculture habitually compiles the list of countries that provide three quarters of trade volume in the industry.
Additionally, Minister Prysyazhnyuk said that Ukraine was leading in world barley exports, ranking number one globally. In 2011 wheat export of Ukraine landed the country the 6th position on the global market, according to the minister. Moreover, this year Ukraine became the third corn supplier in the world, surpassing Brazil and being the second runner-up to the USA and Argentina. Overall, in 2011 Ukraine increased its agricultural export by 30 percent.
Given Ukraine's rich grain production in 2011, this August the country initiated the creation of the world's grain reserve under the auspices of the United Nations. Minister Prysyazhnyuk explained that Ukraine aimed to form a grain reserve of 10 to 12 million tons, preserve it and make grain interventions on the market following the respective decisions by the UN. This would allow for more efficient price regulation on the world grain market.
Currently, Ukraine claims its position as one of the leading agricultural countries in the world. The country possesses 30 percent of world's black soil - the most favorable soil for agriculture. This allows for a certain commercial advantage. Consequently, agricultural exports brought ten billion dollars to the Ukrainian budget in 2011, according to Mykola Prysyazhnyuk.