Agricultural Minister: Ukraine will Export 20-21 Million Tons of Grain
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Agricultural Minister: Ukraine will Export 20-21 Million Tons of Grain

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Agricultural Minister: Ukraine will Export 20-21 Million Tons of Grain PR Newswire KYIV, Ukraine, July 30, 2012 KYIV, Ukraine, July 30, 2012 /PRNewswire/ -- U k r a i n e will be able to export 20-21 million tons of grain this

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Agricultural Minister: Ukraine will Export 20-21 Million Tons of Grain
PR Newswire KYIV, Ukraine, July 30, 2012
KYIV, Ukraine,July 30, 2012/PRNewswire/ --
Ukrainewill be able to export 20-21 million tons of grain this marketing year, said the Ukrainian Minister of Agrarian Policy and Food Mykola Prysyazhnyuk. This amount, he said, was based on 10 million tons of carry-over stock of grain from last year and this year's forecasted crop of 45 - 46 million tons.
So far,Ukraineharvested 12.1 million tons of wheat, 5.5 million tons of barley, and 336 thousand tons of rye, reported Prysyazhnyuk. The aim forUkraineis to double its agricultural production, said the Prime Minister of Ukraine Mykola Azarov onJuly 26. The plan is to increase grain production to 80 - 100 million tons a year, and vegetables - to 30 - 40 million tons a year and a lot of it will depend on investments, he said. According to Ukrainian PM, the last year's growth rate of investment in agriculture has been much higher than that in other industries; investment in agriculture in 2011 compared with 2010 increased by 7.2 times. Notably, in July of 2012 the People's Republic of China allocated theUSD 3 billionloan for a set of projects inUkraine'sagricultural sector. The bilateral cooperation includedUkrainepurchasing crop-protection agents, seeds, and equipment fromChina, land cultivation, construction of a plant for organic fertilizer processing and crop-protection agents production, as well as selling grain toChina. The loan was issued for 15 years with annual interest rate of six percent. In 2011,Ukrainejoined world's top three grain exporters. A year prior - in 2010 -Ukrainelanded fourth on the list of leading grain exporters, following theUSA, the EU, andCanada. Moreover,Ukrainecurrently ranks number one in global barley exports. Additionally,Ukrainebecame the third largest corn supplier in the world in 2011, surpassingBraziland being the second runner-up to theUSA andArgentina. Top grain customers ofUkraineareArmenia,Egypt,Israel,Japan,Jordan, Korea,Liberia,Portugal,Spain, and many others. In April of 2012,Ukraineand Jordanagreed thatUkrainewould construct elevator facilities inJordan. They are set to increase grain supply fromUkrainetoJordan, as well as to several neighboring states.