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News / 18 December 2013 | 15:33
Ukraine has enough buckwheat and sugar

Ukraine has enough buckwheat and sugar

The supply of all basic types of agricultural produce on the domestic market has beaten all previous records this year. In fact, there is no reason to raise prices for them, other than  speculation, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine reports.

The supply of buckwheat in Ukraine is up by 50,000 tons. According to the final count, the country has produced 275,000 thousand tons of buckwheat. The domestic need for this type of grain is about 220,000 tons. According to experts, due to overproduction, prices for buckwheat should fall by 1.5 times. The level of carryover stocks is about 80,000 tons. These figures clearly prove speculative nature of certain statements aimed to destabilize the market and push up the price, which is unacceptable now or in future.

Therefore, the price for these produce should remain low and stable, as there is no objective reason either for deficit or for increasing prices. This was stated by Vitaly Sabluk, director of the Department of Agrarian Market Development of the Ministry of Agrarian Policy and Food of Ukraine.

Also, the domestic sugar stocks of 2.2 million tons are quite enough to meet the needs of Ukrainians. In fact, 1.8 million tons of sugar are enough for domestic consumption. "Domestic agrarians fully cover the domestic market with the required food. This also applies to popular products, such as buckwheat and sugar. So, this year the country’s supply of buckwheat will reach 275,000 tons. And, the annual domestic demand is 220,000 tons", Vitaly Sabluk said.

Thus, there will be enough buckwheat and sugar to generate the necessary carryovers for the next marketing year as well.

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