Record Harvest from Record Lending
Ukrainian farmers harvested a record 106 million tons of grains, beans and oilseeds this year. The top crop – corn – was up 11% over last year and hit 40 million tons. Wheat jumped by 29% to 32.4 million tons. And sunflower seeds were up 34%, to 16.3 million tons. “This is the absolute maximum in the entire history of our state.”
Food exports are up by 17% yoy through September, to $18 billion. An emerging world food power, Ukraine‘s top three country markets are: China — $3 billion; India — $1.35 billion; and the Netherlands — $1.2 billion.
Aid also came in the form of a record $1.1 billion in low interest loans to farmers. Next year, under a new loan guarantee fund, an additional $900 million is to be loaned to farmers who cultivate up to 500 hectares. Also, government payments are to start this spring to farmers who rebuild Soviet-era irrigation systems.
