News
26.02.2020
Ukraine increased agro-food export to Turkey by 71%
According to the results of 2019, Ukraine became the second largest supplier of agro-food products to Turkey and occupied 11% in terms of the structure of Turkish imported agricultural products ceding only to Russia. Last year, supply of agro-food products from Ukraine to Turkey totaled USD 1.4 billion that is 71% more comparing with 2018.
Alongside this, import over the same period increased by 12% and amounted to USD 263.7 million. The trade balance was USD 1.1 billion. It means that Ukraine is a net exporter of agricultural products to Turkey.
The main items of export of agro-food products from Ukraine to Turkey are soybeans (31% in the structure of total export of agricultural products from Ukraine to Turkey), corn (24%), wheat (16%) and mill offal (8%). It should also be noted that in 2019 Ukraine managed to increase significantly supplies of soybean meal by almost 7 times (from USD 7.9 million in 2018 to USD 53.6 in 2019) and sunflower seeds by almost 5 times (from USD 3.1 million in 2018 to USD 13.6 million in 2019).
The main products that Ukraine purchased from Turkey were citrus (34% in the general structure), fresh tomatoes (11%) and grapes (6%).
At present, negotiations are being conducted in order to sign Free Trade Area between Ukraine and Turkey, which could have a positive impact on the trade of agro-food products between these countries by abolishing or reducing customs duties on those products.
According to Andrii Martynenko, the UCAB analyst, negotiations are currently ongoing to sign a Free Trade Area Agreement between Ukraine and Turkey, which could have a positive impact on the trade of agro-food products between these countries by abolishing or reducing customs duties on those products.
