October 7, 2010

Russian grain export embargo to advance Ukrainian agrarians

The grain export embargo, imposed in Russia, has greatly benefited Ukrainian agricultural producers, said Sergey Tigipko, the Vice Prime-Minister of Ukraine.

According to Tigipko, after announcements of the grain export ban imposition, grain prices in Ukraine had increased, which further assisted the Ukrainian agricultural industry because they had received financial support earlier in the current year.

In the current summer Ukraine had lowered grain production volumes from the expected level of nearly 46 million tonnes to 38-39 million tonnes. At the same time, Ukraine received higher qualitative parameters of grains and higher prices for grains, said Tigipko.