The harvest of buckwheat in 2017 will fully satisfy the needs of the domestic market in order to maintain a stable price for this commodity. This was reported by the press service of the Ministry of agriculture.
So, the sown area under buckwheat in the current year rose to 183 thousand hectares as against 150 thousand hectares in 2016.
“The expansion in acreage by 22% will allow to neutralize possible sagging of the yield caused by unfavourable weather conditions,” – noted in the Department.
According to preliminary estimates, the harvest of buckwheat in 2017 will be 197,5 thousand tons while the domestic demand of 160 thousand tons. In 2016 were collected 128 thousand tons of this culture.
For 2017, the average price of buckwheat has fluctuated between 20% and remained in the range 23,92 – 29,76 UAH/kg. as of 30 August, the average price of buckwheat in Ukraine amounted to 24.25 UAH/kg. For comparison, on this date last year cost the buckwheat 30,97 UAH.
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“Market balances do not indicate a risk of a price increase, therefore, such fluctuations can have exclusively speculative character. However, the fact that the market situation is so exposed to external shocks underscores the importance of planning and formation of appropriate structure of sown areas,” – said the first Deputy Minister of agrarian policy Maxim Martyniuk.
He recalled that in recent years, buckwheat is in the TOP 3 most profitable crops in the crop, which is a natural stimulus to expansion of acreage under this crop.