Historically known as the “bread basket of Europe”, Ukraine is set to become the “food basket” of the world. With 33% of the world’s black soil (chornozem) concentrated in Ukraine, a favourable climate and proximity to key markets, Ukraine is becoming an agriculture export powerhouse.
Ukraine’s present agricultural output consists of a diverse combination of cereal and forage crops including wheat, maize, barley, sunflowers, sugar beets, natural honey and apple juice.
Ukraine maintains leading positions in production and exports of cereal grains. The annual cereal crop reaches over 70 million tons. Given the domestic market needs, Ukraine can export approximately 50 million tons of cereal grains annually.
Ukrainian agriculture, already enjoying substantial cost advantages due to attractive land rent prices, extremely fertile soil, competitive wages and logistics, still has plenty of headroom for productivity growth as the yields per hectare remain below Western benchmarks.
With additional investments in management, education, irrigation, farming techniques, logistics and value added production, Ukraine is poised to double its food exports.