According to the experts of the association "Ukrainian Agribusiness Club", in 2015/16 MY Ukrainians will probably feel the shortage of buckwheat, which gross yield reduced by 14-17% comparing to the previous year due to decrease of cultivated lands by 6% and unfavourable weather conditions which might reduce the average yields by 6-10%. As a result, the country will have to import this product.
Annual consumption of buckwheat in Ukraine is estimated at the level of 155-180 ths. tons with a tendency to decrease because of the rising cost of this product during recent years and the reduction of paying capacity of the population. Production is also reduced due to low profitability or even unprofitableness of crop that is focused solely on the domestic market. The devaluation of hryvnia only strengthened the desire of farmers to avoid buckwheat production, as the purchase price for it is not responsive to the depreciation of the national currency, in the case of crops that are export-oriented.
To ensure domestic consumption of this product the country needs to import about 30-40 ths. tons of it – that is 25-34 times more than the volume of imports last marketing year. Thus imports can take a quarter of the domestic market. Given the current price of buckwheat, which on average varies from 20 to 23 UAH/kg in Ukraine, the price in the new season might rise to 25-30 UAH/kg, which is 30% more than in early September.
Association "Ukrainian Agribusiness Club"
3 floor, 146 Zhylianska Str.
01032 Kyiv, Ukraine
Phone/Fax: +380 44 2362097/79
The Association "Ukrainian Agribusiness Club" (UCAB) www.ucab.ua was founded in 2007 to protect the economic and professional interests of players of agribusiness in Ukraine. UCAB is a unique platform in Ukraine for establishing business contacts between the leaders of agribusiness, improvement their work and dialogue with the government. UCAB actively supports Ukrainian producers in establishing and maintaining international business relations. The Association consists of the largest producers and processors of agricultural products in Ukraine.