Ukraine risks losing up to $4 billion due to reduced grain exports

Ukraine may lose up to 4 billion dollars as a result of a decrease in the volume of grain exports. In order for this not to happen, the state should increase the monthly export of grain.

The Ukrainian agricultural sector may lose at least $3-4 billion a year if Ukraine does not increase its monthly grain export from 3 million tons to 5.5-6 million tons.

This is reported by “APK-Inform” with reference to the statement of Dmytro Solomchuk, a member of the Committee of the Verkhovna Rada of Ukraine on Agrarian and Land Policy.

According to him, the harvest will be larger than predicted — at the level of 75 million tons. Taking into account these figures and domestic consumption, Ukraine needs to export at least 5.5-6 million tons of grain every month to avoid surpluses that will carry over to the next harvest.

Solomchuk clarified that currently Ukraine exports 3 million tons of grain monthly by land and the Danube, but this is not enough.

The expert emphasized that large financial losses will force farmers to save on the quality of seeds and the amount of fertilizers used. Also, farmers’ losses will contribute to problems with payment for land shares. Therefore, the volume and quality of the harvest may decrease next year.