Ukrainian agriculture remains profitable despite decline in world food prices

21.09.2015 18:53 "Agro Perspectiva" (Kyiv) — Ukrainian export-oriented agricultural companies continue generating profit despite the fact that global food prices have fallen to their minimum within the past few years, UNIAN reports referring to the Ukrainian Minister of Agrarian Policy and Food Oleksiy Pavlenko interview with the CNBC Channel in Europe. As to the report, the Minister noted that the Ukrainian agricultural sector engaged in exports takes advantage of the weakening of the national currency despite declining prices of food on the global markets. The UAH has lost its value against the US$ by over 3 times in recent years, what has resulted in a decline in the costs of local farm produce. As to Pavlenko, he does not expect a further fall in agricultural commodity prices on world markets. As to him, the prices have stabilized and may start rising. As to the earlier report, the FAO (UN Food and Agriculture Organization) had registered the sharpest decline in food prices over the past seven years: thus, global food prices in this year Aug saw a further downward trend of previous months, driven by cheaper oil prices and concern over China’s stuttering economy, as well as abundant food supplies.

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