In January-October 2020, Ukraine reduced exports of agricultural products by 1.7% compared to the same period last year. According to the Ukrainian Club of Agrarian Business Association exports were reduced exactly to $ 17.6 billion.
According to this data, imports of agricultural products for the reporting period increased by 14.4% to $ 5.1 billion. Thus, the positive balance of foreign trade in agricultural products decreased by $ 1 billion compared to January-October 2019.
Ivan Kolodyazhny, UCAB analyst explains this decrease in the trade balance by 7% by relatively low prices for grain and oilseeds and products of their processing in the first half of the year, as well as a lower harvest in 2020.
At the same time, exports of sunflower oil increased by 21%, or $ 703.8 million, wheat – by 6%, or $ 173.4 million, barley – by 37%, or $ 161.7 million.
Meanwhile, deliveries of corn decreased by 12%, or $ 482.2 million, soybeans – by 48%, or $ 415 million, seeds – by 29%, or $ 337 million.
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