Exports of fruit and nuts from Ukraine in Feb grow to a record high of $24.8 mln

Exports of fruit and nuts from Ukraine in February 2019 grew by a third, to a record high of $24.8 million compared to the same period last year.

"In February 2019, revenue from exports of fruit and nuts from Ukraine was record-breaking in the entire history, reaching $24.8 million," the East Fruit analytical platform said.

"The exports grew by 10% compared to January 2019 and exceeded the February 2018 figure by one third," it said.

In the first two months of 2019, Ukraine already earned $47.4 million from exports of fruit, berries and nuts, which was 22% up year-over-year.

According to analysts, exports in February more than doubled in two years. So, in February 2017, the total revenue from exports of all fruit, berries and nuts did not exceed $11.5 million, and it was 2.2 times higher in February 2019.

Walnuts were still the main export-oriented staple, which in February 2019 accounted for about 64% of export revenue. It was significantly less than last year's figure (77%).

Read alsoUkraine boosts agri-food imports to US$5.5 bln in 2018

Experts note that the main cause behind the shrinking share of walnuts in revenue was a decline in average prices of the product, as well as an increase in revenue from exports of fresh apples and frozen berries and fruit.

Apples in February 2019 accounted for 14% of total revenue, against 8% a year earlier and 4% two years earlier.

The share of frozen berries in February 2019 was 21% of Ukraine's total export earnings, although their share did not exceed 14% in February last year.

Experts say earnings from exports of fruits, nuts and berries are the highest in November each year, after which they begin to decline until July. However, in 2019, the growth of export earnings in March or April is quite possible, since stocks of apples, walnuts and frozen berries are still very high.