Business news from Ukraine

AGRICULTURE MINISTRY REVISES UPWARDS UKRAINE’S GRAIN HARVEST FORECAST FOR 2016

12 September , 2016  

KYIV. Sept 12 (Interfax-Ukraine) – Grain harvest in Ukraine in 2016 could be 62.3 million tonnes, Ukrainian Agricultural Policy and Food Minister Taras Kutoviy said in parliament on Friday.

“Growth [of harvest] compared to the previous year is 2 million tonnes. We predict 62.3 million tonnes of gross grain output, but according to assessments of various associations, this figure could be considerably higher,” he said.

Earlier the ministry anticipated that grain harvest would be 61 million tonnes.

Kutoviy added that global grain prices continued falling compared to the previous agricultural year.

He said that now the government is discussing mechanisms for supporting farmers with land banks of up to 500 ha.

“I think that we would reach a formula per 1 ha. We will support those farmers who are involved in cattle breeding, niche crops planting and invest money in Ukrainian engineering,” he said.

The minister added that the annulment of the special regime for cattle breeders would have negative consequences. The government is seeking for options how to compensate all these losses to farmers.