27 Dec 2023 16:22

Ukraine increases agricultural exports 7% in 2023 - Ministry of Agrarian Policy and Food

MOSCOW. Dec 27 (Interfax) - Exports of Ukrainian agricultural products in 2023 increased 7% in value compared to 2022, reaching $22.9 billion, including $8 billion in grain crops, Ukrainian media reported citing the Ministry of Agrarian Policy and Food.

"There is an increase in the volume of exports of agricultural products. As of December 25 (...) grain exports, for example, were 43 million tonnes, while for the same period last year, they were 37 million tonnes. The value of these exports is nearly $8 billion," First Deputy Minister of Agricultural Policy Taras Vysotsky said in a speech on the ministry's Telegram channel.

Ukraine was able to independently resume exports through the maritime grain corridor after the termination of the Black Sea Grain Initiative, he said. "Really active exports began in October. During this period, about 9 million tonnes of agricultural products alone have already been exported. This is a very good result, taking everything into account," Vysotsky said.

The absolute majority of Ukrainian exports are agricultural products, he said. To increase the indicator, the government took a number of measures. Among the most effective, Vysotsky said, was the shortening of the period for the return of foreign currency earnings by the National Bank of Ukraine, which was previously 180 days, but is now 90. At the Ministry level, a list of diversified exporters of agricultural products has come into effect.

"The process of diversifying exports of agricultural products began on November 10. The Ministry of Agrarian Policy has clear criteria: the company must be a VAT payer, and must demonstrate a positive history of returning foreign currency earnings, confirmed directly by the bank. Of course, the company should not have any debts, unpaid fines, or penalties. This is synchronized with the tax service database," he said.