Головна Market News Gross agricultural production in Ukraine will amount to UAH 316 billion –...

Gross agricultural production in Ukraine will amount to UAH 316 billion – IAE

According to the Institute of Agrarian Economics (IAE), with an average annual growth rate of 2.1%, the production of gross agricultural output in Ukraine in 2025 may increase to UAH 316 billion.

It has been noted by Victor Mezel-Veselyak, the head of the department for production and land relations at IAE.

According to him, it is 25.7% higher than the indicator of 2014, which amounted to UAH 251.4 billion.

In particular, according to the forecasts of IAE, the gross crop production in 2025 may increase by 24.0% to UAH 220.4 billion. For this to happen, the average annual growth rate should be at least 2%.

With an average annual growth rate of 2.4%, the gross output of livestock products in 2025 is projected at UAH 95.7 billion, which is 29.7% higher than in 2014.

“The necessary condition for this forecast is the improvement of the economic relations between agriculture and processing industries through the formation of prices for products.These prices have to recoup the costs for agricultural practices and ensure 14 per cent profit rate on the capital invested into production, including costs of the land,” – summed up Viktor Mesel-Veselyak.

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