Meals accounts for 60% of all exports from Ukraine
19 December 2023
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Difficulties with shipping and logistics resulted in a 7% year-on-year drop in Ukraine’s exports of agrarian merchandise within the yr to November, and likewise driven up the price of imported meals, Reuters reported, bringing up the Nationwide Institute of Agrarian Economics on Monday.
Meals accounts for 60% of all exports from Ukraine, a significant manufacturer and exporter of grain and oils, however the union of agriculture manufacturers says difficulties in getting merchandise throughout land borders or shipped out from ports because of the battle with Russia have made farm merchandise unprofitable.
The similar problems have additionally raised meals import prices 16% to $6.2 billion because the starting of the yr, the institute mentioned.
The institute cited knowledge from the state customs provider that displays Ukraine exported $19.6 billion value of agrarian items since January, with grains, vegetable oil and meat merchandise accounting for 87% of that worth.
It mentioned the capability of the Black Sea hall which Ukraine introduced as an alternative choice to its Black Sea ports that are blocked via Russia used to be nonetheless “too small to satisfy actual wishes”, including that import bans and restrictions via Poland, Hungary and Slovakia on positive Ukrainian merchandise had created further difficulties.
“The present hindrances now not simplest result in a basic decline in revenues for Ukrainian sectoral exporters, but in addition make any measures of international financial process useless and unpredictable,” the institute mentioned.