Vysotskyi: the Ukrainian agricultural sector will remain unprofitable in 2023

The Ukrainian agricultural sector will remain unprofitable this year due to a number of factors.

Thus, despite a good harvest, in 2023 the Ukrainian agricultural sector will remain unprofitable, reports “APK Inform” with reference to the First Deputy Minister of Agricultural Policy Taras Vysotskyi.

The Ukrainian agricultural sector will show losses due to limited opportunities for export and low prices on the domestic market. Even a good harvest, the volume of which this year is 5-10% larger than last year, will not save the situation.

First of all, this applies to corn. With a smaller cultivation area, the shaft will reach 29-30 million tons. A similar situation is with soy and rapeseed.

According to Vysotskyi, the price situation has worsened compared to last year.

“If it was the same plus 5-10%, in principle, it would be calmer. But, unfortunately, the price situation shows that at current prices, the industry will be unprofitable this year,” said the deputy minister.

He also reminded that two weeks ago, representatives of the leading agricultural associations of Ukraine announced estimates of losses to the agricultural sector in 2023 in the amount of $3.5 billion.

Vysotsky noted that the existing problem can only be solved by improving logistics, because the optimization of export routes automatically means higher prices on the domestic market.