11:16 Oct. 11, 2016
The price of Ukrainian flour is the lowest in the world
Ukraine became the world's leader in flour exports in the 2015-2016 marketing year (MY), or July 2015 through June 2016, with shipments amounting to 344,000 tonnes, which is 32.5% up from the 2014-2015 MY, according to the press service of the United Nations Food and Agriculture Organization, citing Advisor to the Chairman of the Board of PJSC Agrarian Fund Serhiy Sakirkin.
However, the price of Ukrainian flour was the lowest in the world, it said.
"In total, Ukraine shipped 344,000 tonnes of flour in the 2015-2016 MY to the tune of USD 72.9 million, having become the world's leader in terms of supplies and an outsider in terms of the price …The average price of high-grade flour based on FCA terms in the 2015-2016 MY was lower than the previous year's level and stood at USD 193.2 per tonne in June 2016," the press service said.
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According to the press service, the United States ranked second in terms of flour exports. The country shipped 303,000 tonnes of flour in the 2015-2016 MY worth USD 151.02 million. Thus, U.S. proceeds from flour exports were twice higher Ukraine's revenue in the reporting period. Next major exporters of flour were Russia with 289,000 tonnes worth USD 87.66 million, India with 284,000 tonnes worth USD 114.83 million, and Canada with 239,000 tonnes worth USD 144.46 million. The United Kingdom shipped 231,000 tonnes of flour to the tune of USD 120.26 million.
The East Asian region accounted for the largest share of Ukraine's exports – 48% of total exports in the 2015-2016 MY, which was higher by 7 percentage points from the 2014-2015 MY. The next major export destination was the Middle East, accounting for 18% of total exports in the 2015-2016 MY (as compared to 26% in the 2014-2015 MY).
CIS countries accounted for 11% of total exports in the period under review, as compared to 15% in the previous marketing year. The share of Ukraine's exports to Southeast Asia was 11% of total exports, the same as in the previous year.
North Korea was the largest consumer of Ukrainian flour in the 2015-2016 MY.
Ukrainian farmers also imported flour in the 2015-2016 MY. Key countries that sold Ukraine flour were the United Kingdom (23.5% of total flour imports), the Czech Republic (12.9%), Moldova (9.34%), Panama (8.53%), and other countries.
Reported by UNIAN