REUTERS
At the same time, imports of agricultural products amounted to almost US$5.1 billion, which was 14.4% up y-o-y.
Ukraine in January-October 2020 exported agricultural products worth US$17.6 billion, which was 1.7% down year-over-year (y-o-y).
At the same time, imports of agricultural products amounted to almost US$5.1 billion, which was 14.4% up y-o-y, the Ukrainian Agribusiness Club wrote.
"The foreign trade balance of agricultural and food products amounted to US$12.5 billion, which is almost US$1 billion down y-o-y. The decrease in the trade balance by 7% compared to last year is explained by relatively low prices for grains and oilseeds, and products of their processing in the first half of the year, as well as a smaller harvest of 2020," the UABC quoted analyst Ivan Kolodiazhny as saying.
In the commodity structure of exports, supplies increased the most among the following products: sunflower oil – by US$703.8 million (+21%), wheat – by US$173.4 million (+6%), and barley – by US$161.7 million (+37%).
At the same time, supplies decreased of corn – by US$482.2 million (-12%), soybeans – by US$415 million (-48%), and seeds – by US$337 million (-29%).
In January-October 2020, Ukraine also continued to its imports: cheeses – by US$87.6 million (+52.4%), tobacco – by US$59.6 million (+ 40%), and feed – by US$40.1 million (+23%). At the same time, imports decreased in sunflower seeds – by US$21.1 million (-11%), corn – by US$17 million (-16%), and frozen fish – by US$10.9 million (-4%).
Background
Ukraine in 2019 updated its historical record in agri-exports, having supplied agricultural products worth US$22.4 billion, which was almost 20% up from 2018.
In total, Ukraine's agri-food imports in 2019 stood at US$6.1 billion, which was 11% up year-on-year.