News
30.11.2016
Ukraine is the third producer of buckwheat in the world
In recent years, in Ukraine the production of buckwheat was characterized by acute fluctuations within 140-180 thousand tons stipulated primarily by the price on crop. Domestic consumption of this grain crop amounts to 130-140 thousand tons. Even though this year the producers have gathered 190 thousand tons of grain crop which is by 36% more than the previous year, Ukraine is still a net importer of buckwheat and over 10 months of 2016 has supplied from abroad 3.6 thousand tons of grain crop amounting to USD 1.8 million.
Extension of the market outlets can stabilize situation on the buckwheat market. Exports will help to relive of the grain crop remains in domestic market as well as become an additional factor to establish competitive price level for the producer. Countries of the European Union importing annually about 50 thousand tons of buckwheat (30% of Ukrainian production) are perspective to cooperate in this direction. Moreover, the European market is traditionally more incentive than the domestic one.
For more detailed information about the dynamics of prices on buckwheat market, global trade, major exporters / importers, major market outlets for Ukraine, please refer to the UCAB research ‘Niche Agricultural Production Directions: Buckwheat’.
