January 18, 2011

Grain prices hike in Ukraine over the year

Ukraine posted in 2010 a considerable price hike for main commodities including grain, according to the investment company Foyil Securities.

Thus, over 2010, prices for wheat in Ukraine increased approximately by 50% and prices for corn by 30%.

As distinct from the situation with sugar, Ukraine produces grain and oil-bearing cultures more than it is necessary for covering demand inside the country. However, negative weather changes simultaneously at several main regions of the world led to a global rise of prices for foodstuffs.

Ukraine is lucky that an abnormally high temperature in late summer did not bring to considerable loss of the yield. Otherwise, prices for foodstuffs would rise higher, the expert believes.