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D
ear Reader,
lI is my greaI pleasure Io inIroduce you
Io our new publicaIion abouI aIIracIive sec-
Iors oI Ukraine, made in parInership wiIh
DeloiIIe.
We developed Ihese brochures Io make in-
IormaIion abouI secIors oI Ukraine acces-
sible and easy Io undersIand. The bookleIs
provide analysis oI economic aIIracIiveness,
as well as comparaIive characIerisIics and
undiscovered opporIuniIies.
Ukraine enjoys a long indusIrial IradiIion, ro-
busI IransporIaIion and Iechnical inIrasIruc-
Iure, rich naIural resources, sIrong second-
ary and IerIiary educaIion, a broad neIwork
oI research and developmenI insIiIuIes, and
a large pool oI Iechnically skilled labor. As a
WTO member since 2008 and having signed
lnIernaIional AgreemenIs Ior Ihe Avoid-
ance oI Double TaxaIion wiIh 63 counIries,
Ukraine is a Iair player in Ihe business world,
a IransparenI and predicIable parIner.
lnvesIUkraine oIIers individual supporI Io in-
vesIors and is here Io assisI poIenIial inves-
Iors wiIh seIIing up producIion in Ukraine.
We oIIer proIessional supporI in obIaining
inIormaIion and analysis, legal advice, siIe
visiIs, siIe selecIion services, assisIance in
communicaIion wiIh local auIhoriIies, and
an aIIercare program.
l encourage you Io consider Ukraine as a
place Ior your IuIure business and discover
all Ihe beneIiIs oI locaIing your companys
operaIions in our counIry.
l look Iorward Io welcoming you in Ukraine.
/,'0-( 1,+&$%2,"3*4
Head
lnvesIUkraine
SIaIe Agency Ior lnvesImenI and
NaIional ProjecIs oI Ukraine
A
Iavorable geographic posiIion, vasI
consumer markeI, ample resources
and high level oI educaIion all Ihese Iac-
Iors ensure greaI invesImenI poIenIial Ior
Ihe economy oI Ukraine.
AI presenI, Ukrainian markeI is aI Ihe devel-
opmenI sIage. There are many niches and
opporIuniIies Ior inIroducing new players
and sIrengIhening Ihe posiIions oI exisIing
ones. However, mosI oI Ukraines indus-
Iries lack invesImenIs, Ihough inIernaIional
invesIors are highly inIeresIed in Ihem. We
believe IhaI Ioreign invesImenIs will be very
successIul and promoIe economic growIh iI
a Iavorable invesImenI climaIe is creaIed in
Ukraine.
To assisI you in deIermining Ihe mosI prom-
ising areas Io invesI in and geI an insighI
inIo Ukrainian markeI, DeloiIIe experIs in
cooperaIion wiIh lnvesIUkraine have con-
ducIed Ihis research.
We hope IhaI Ihis overview will be useIul
and inIeresIing Ior all companies inIeresI-
ed in invesIing in various indusIries oI our
counIry.
567#-8-' 5732&4
Uanaging ParIner
DeloiIIe
9
:;,<$&-+, %$887'(
=7"# ',%*$'<,%
>'*?% ?'*#$<&-*"
!"@'7%&'$<&$',
/$07' 87'3,&
A,7& 87'3,&
:00 87'3,&
B7-'( 87'3,&
A7-" 70'- ?67(,'%
C*+,'"8,"& ',0$67&-*" 7"# %$??*'&
:%&7D6-%28,"&% 7"# -"%&-&$&-*"%
=-%& *@ ',@,',"<,%
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Ukraine has Ihe largesI area oI agriculIural
land in Europe wiIh approximaIely 43 m ha
oI land ouI oI which 32.5 m ha are used
Ior crop producIion. FerIile soil (Ukraine ac-
AgriculIural markeIs and agriculIural pro-
ducIion generally are subjecI Io producIion
and selling resIricIions and limiIaIions in Ihe
To ensure 100 oI harvesIed grains can be
saIely sIored in Ukraine, invesImenIs in Ihe
WeaIher risk is Iypical Ior Ihe indusIry, buI
weaIher condiIions in Ukraine are generally
Iavorable.
Prices oI agriculIural commodiIies are inIlu-
enced by a varieIy oI unpredicIable IacIors
IhaI are ouI oI conIrol oI local agri compa-
CurrenIly Ukraine is a world markeI leader
in exporIs oI sunIlower oil and barley. ln
recenI years Ukraine has been producing
around 40-50 m I oI grain per year and has
Ukrainian agriculIural holdings have higher
eIIiciency Ihan world peers mainly due Io
low producIion cosIs (inexpensive labor
Iorce and low land renI raIes). On Ihe oIher
counIs Ior c.25 oI global black soil, known
as "chernozem") and moderaIe climaIe give
Ukrainian agri producers sIrong compeIiIive
advanIages.
Iorm oI quoIas, IariIIs and oIher mecha-
nisms Io proIecI naIional producers boIh aI
inIernaIional and domesIic levels.
consIrucIion oI 15-20 m I oI sIorage capac-
iIy are needed.
nies, among Ihem weaIher condiIions and
changes in global supply and demand.
regained iIs sIaIus oI a major supplier oI
grains Io world markeIs. Ukraines agricul-
Iural exporI propensiIy is supporIed by ad-
diIional geographic advanIages.
hand, IerIile soils allow reaching compara-
Iively high crop producIiviIy aI a low IerIilizer
usage.
:;,<$&-+, %$887'(
A7-" 7#+7"&70,% *@ M3'7-"-7" 70'-<$6&$'76 %,<&*'
N-%3%
O??*'&$"-&-,% @*' -"+,%&8,"&%
:;<,?&-*"766( @,'&-6, %*-6 7"# @7+*'7D6, .,7&2,' <*"#-&-*"% @*' <'*?% ?'*#$<&-*"
P*6-&-<76 '-%3
!"@'7%&'$<&$', *??*'&$"-&-,%
Q,7&2,' '-%3
P'-<,% +*67&-6-&( '-%3
:;?*'& *??*'&$"-&-,%
R-02 ?'*@-&7D-6-&( *@ M3'7-"-7" 70'- <*8?7"-,%
F
Ukraine has Ihe capaciIy Io produce much
greaIer volumes oI grains, oilseeds and live-
sIock producIs Ihan iIs shrinking populaIion
UeaI supply in Ukraine is limiIed, as Ihe
livesIock headcounI has decreased by 82
since 1987. Dairy markeI is unconsolidaIed.
ln spiIe oI high markeI concenIraIion, a
large percenI oI household egg producIion
(c.42) in Ukraine could be occupied by
WiIh large verIically inIegraIed agri busi-
nesses currenIly operaIing on 10-15 oI
IoIal arable land in Ukraine, indusIry con-
solidaIion in Ihe long run is expecIed, espe-
No special requiremenIs oI licensing are im-
posed on parIicipanIs oI agriculIural secIor
in Ukraine. Ukrainian Iax legislaIion allows
U
kraine has 42.8 m ha oI agriculIural land
comprising 71 oI Ihe counIrys IoIal
area, oI which 32.5 m ha is arable (excl.
pasIures, grasslands, permanenI planI-
ings eIc.). Ukraine has Iavorable climaIe Ior
large scale agriculIure, rich agriculIural soils
and access Io abundanI land and waIer re-
sources.
can be expecIed Io consume. ProducIiviIy
oI IerIilizers in Ukraine is 1.7 higher Ihan Ihe
world average in 2010.
UeaI and dairy markeIs have good pros-
pecIs Ior quick growIh.
indusIrial producers. Ukrainian egg secIor
has good exporI opporIuniIies Ior shell eggs
and egg producIs.
cially in view oI Ihe expecIed land Irade lib-
eralizaIion. There are small Iarms in Ukraine
as well as successIully working agri busi-
nesses IhaI could be acquired.
agriculIural producers Io choose beIween
special Iax regimes and Ihe general sysIem
oI IaxaIion.
Arable land represenIs 76 oI Ukrainian ag-
riculIural land. The IoIal amounI oI Ukrainian
arable land equals 30 oI Ihe European Un-
ions arable land and represenIs 2.4 oI Ihe
worlds IoIal arable land, according Io FAO
and EurosIaI. ln Ihe Iable below agriculIural
area oI Ukraine is compared Io agriculIural
areas in selecIed counIries in 2009:
UosI Iavorable (`65cm)
Favorable (51-65cm)
SaIisIacIory (36-50cm)
UnsaIisIacIory (20-35cm)
Very poor (<20cm)
=7"# ',%*$'<,%
M3'7-", ?*%%,%%,% IJSE 8 27 *@ 7'7D6, 67"#
B,?&2 *@ 2$8$% 67(,' -" M3'7-"-7" %*-6
/-0"-@-<7"& ?*&,"&-76 &* -"<',7%, (-,6#%T ',67&-+,6( -",;?,"%-+, 67D*' 7"# 67"# 6,7%, <*%&%
A7'3,& "-<2, -" 8,7& U #7-'( %,<&*'
:00 87'3,& %2*.% 0'*.&2
!"#$%&'( <*"%*6-#7&-*" $"#,'.7(
V* %?,<-76 ',W$-',8,"&% *@ 6-<,"%-"0T @7+*'7D6, &7; ',0-8, @*' 70'- ?'*#$<,'%
Source: Ukrainian AgriculIure UinisIry, Dragon CapiIal
X
Y0'-<$6&$'76 67"#4 8 27
:;<,?&-*"766( @,'&-6, M3'7-"-7" %*-6 7"# @7+*'7D6, .,7&2,' <*"#-&-*"%
=7'0, *?,'7&*'% <*"&'*6 JKZ *@ 6,7%,# 7'7D6, 67"#
=*. 67"# 6,7%, '7&,%
=7"# D7"3 *@ 67'0,%& M3'7-"-7" 70'- D$%-",%% -" JKHH4 3 27
Ukraine is richly endowed wiIh chernozem
(also known as "black soil"), one oI Ihe mosI
IerIile soils worldwide. Ukraine accounIs Ior
abouI 25 oI Ihe global chernozem area.
Chernozem, a black-colored soil IhaI con-
Iains a very high percenIage oI humus (3
Io 15) along wiIh phosphoric acids, phos-
According Io indusIry researches which
are based on inIormaIion Irom individual
companies and media reporIs, large agri
businesses presenIly lease over 3.5 m ha
Overall land renI raIes are relaIively low, especially iI compared wiIh Ihose in Ihe EU or US.
phorus and ammonia, occupies 41 oI
Ukraines IoIal area and even more oI iIs ag-
riculIural land (54), and plow land (58).
Only Iwo chernozem belIs exisI worldwide:
one exIending Irom norIheasI Ukraine Io
Russia, and Ihe oIher in Ihe Canadian
Prairies.
oI land, or 10.8 oI IoIal arable land and
20 oI leased arable land, wiIh Ihe smallesI
company in Ihis group conIrolling over 30
Ihsd ha.
Source: Food and AgriculIure OrganizaIion, Dragon CapiIal Research
523
411
265
215
185
180
133
68
43
29
18
17
16
4 884
110
163
61
122
108
158
31
45
33
18
6
12
13
1 381
L*&76
70'-<$6&$'76
7',7
L*&76
70'-<$6&$'76
7',7
Y'7D6,
67"#
Y'7D6,
67"# CounIry
China
UniIed SIaIes oI America
Brazil
Russia
European Union
lndia
ArgenIina
CounIry
Canada
Ukraine
France
UniIed Kingdom
Germany
Poland
World
G
P'*#$<&-*" *@ 87-" <'*?% -" M3'7-",4 8 &
M3'7-"-7" 70'-<$6&$'76 ?'*#$<,'% ,"[*( -",;?,"%-+, 67D*'
1-,6#% 6*.,' &27" -" :$'*?,7" M"-*" <*$"&'-,% 87-"6( <7$%,# D( 6*. @,'&-6-\,' $%70,
l
n 2011, 3 m Ukrainians were working in
Ukraines agriculIural indusIry, or 15 oI all
labor Iorce. Ukrainian agriculIural producers
enjoy a number oI compeIiIive advanIages
over Iheir Ioreign peers, parIicularly low labor
cosIs. Labor Iorce is inexpensive and highly
qualiIied. DomesIic agriculIural companies
pay Iarm workers USD 2Jhour on average
Due Io insuIIicienI IerIilizers and crop pro-
IecIion producIs applicaIion and lack oI
modern machinery in Ihe Iields, agriculIural
compared Io USD 40Jhour in Germany, USD
6-10 in CEE counIries, and USD 3 in Russia.
Among Ihe popular crops in Ukraine are
wheaI, corn, sugar beeIs, sunIlowers, leg-
umes, Iobacco, vegeIables and IruiIs. The
producIion volumes are shown in Ihe Iable
below:
yields in Ukraine are lower Ihan average in
European Union and Ihe world.
>'*?% ?'*#$<&-*"
Y0'-<$6&$'76 (-,6#% -" JKHK]JKHH4 & ] 27
Source: UniIed SIaIes DeparImenI oI AgriculIure
World
European Union
Ukraine
2,9
5,2
2,7
5,0
7,0
4,5
2,4
4,3
2,0
1,4
1,8
1,5
1,8
3,0
1,7
2,6
2,8
1,6
Q2,7& >*'" ^7'6,( /$"@6*.,' N7?,%,,# /*(D,7"
_
Ukraine harvesIed 39.2 m I oI grain wiIh
an average yield oI 2.7 IJha in 2010. This
enabled Ihe counIry Io exporI more Ihan
15 m I oI grain in 2010J11, while reIaining
almosI 25 m I Ior domesIic consumpIion.
ln 2010J2011 Ukraine exporIed 4.2 m I oI
wheaI, 2.8 m I oI barley and 4.9 m I oI corn
(9.2, 6.3, 5.1 in 2009J2010, respecIively).
Uiddle EasI and NorIhern AIrica were ma-
jor geographies oI Ukrainian grain exporI
in 2010J11. Saudi Arabia was Ihe largesI
imporIer oI Ukrainian barley (64 oI IoIal
exporIed barley), EgypI was Ihe largesI im-
porIer oI wheaI (15) and corn (19).
M3'7-"-7" .2,7& ?'*#$<&-*" -% ,"*$02 @*' D*&2 #*8,%&-< <*"%$8?&-*"
7"# ,;?*'&
M3'7-"-7" .2,7& ,;?*'& D(
<*$"&'-,% -" JKHK]JKHH4 3 &
Ukraines currenI IerIilizer raIe sIands aI
78 kgJha used Ior 2011 harvesI, which is
higher Ihan in neighboring Russia (33 kgJ
ha), buI sIill lower Ihan, Ior example, in Slo-
venia (195 kgJha), China (130 kgJha) or de-
veloped EU counIries (120 kgJha on ave.).
The US reporIs Ihe highesI IerIilizer usage
raIe in Ihe world oI 150 kgJha. DespiIe low
IerIilizer usage, Ukrainian Iarms have dem-
onsIraIed superior crop producIiviIy per uniI
oI IerIilizer applied Ihanks Io Ihe counIrys
IerIile soil.
Ukraine reporIed 52 kg oI crop ouIpuI per 1
kg oI IerIilizer applied in 2010.
M3'7-"-7" @7'8% #,8*"%&'7&, %$?,'-*' <'*? ?'*#$<&-+-&( ?,' $"-& *@ @,'&-6-\,'
>'*? ?'*#$<&-+-&( +%S @,'&-6-\,' $%70, -" JKHK4 30 ]30
Source: lnIernaIional FerIilizer lndusIry AssociaIion, SIaIe SIaIisIics Service oI Ukraine, Dragon CapiIal Research
Source: APK lnIorm
HK
ln 2009J2010 agriculIural year, Ukraine ac-
counIed Ior 58 oI Ihe global sunIlower oil
exporI markeI. The Iable below shows vol-
umes oI sunIlower oil exporIed Irom major
sunIlower oil producing counIries during Ihe
period Irom 2004J2005 Io 2010J2011 agri-
culIural year:
/$"@6*.,' *-6 ,;?*'&%4 3 &
M3'7-", -% &2, .*'6#`% 67'0,%& ,;?*'&,' *@ %$"@6*.,' *-6
Source: UniIed SIaIes DeparImenI oI AgriculIure
ArgenIina
European Union
Russia
Turkey
Ukraine
Q*'6#
1 176
184
226
22
642
J EJX
853
147
711
34
1 867
9 KIG
578
150
504
68
2 645
9 EEE
1 221
128
616
99
1 579
I _KX
850
120
802
131
2 098
9 EFK
1 219
109
322
54
1 325
I 9GF
950
160
140
130
2 500
9 IEI
JKK9]KE JKKE]KF JKKF]KX JKKX]KG JKKG]K_ JKK_]HK JKHK]HH
M3'7-"-7" D7'6,( ,;?*'&
D( <*$"&'-,%
-" JKHK]JKHH4 3 &
M3'7-"-7" <*'" ,;?*'& D(
<*$"&'-,% -" JKHK]JKHH
aO<&b/,?c4 3 &
Source: APK lnIorm
Source: APK lnIorm
HH
U
kraines exisIing IransporIaIion and sIorage inIrasIrucIure provides a solid basis Ior Iur-
Iher developmenI oI Ihe agriculIural secIor and commodiIy exporIs.
M3'7-"-7" 70'-<$6&$'76 -"@'7%&'$<&$',d 87-" eP!%
Source: DeloiIIe analysis
/,7 7"# '-+,' ?*'&% N7-6.7( ",&.*'3 /&*'70, @7<-6-&-,%
!"@'7%&'$<&$',
Ukraines shorIer IransporIaIion disIances,
low IransporIaIion cosIs, and more devel-
oped IransporIaIion inIrasIrucIure provide
greaIer cosI advanIages Ior agriculIural
exporIers compared wiIh iIs closesI neigh-
bors, parIicularly Russia and KazakhsIan,
which are Ukraines compeIiIors in exporIs
Io Ihe inIernaIional markeIs.
CapaciIy (30 m I per annum):
10 large and mid-size porIs
on Ihe Black Sea,
3 porIs on Ihe Sea oI Azov,
3 Dnieper river porIs,
3 oIher river porIs,
a number oI smaller porIs
along Ukraines waIerline.
Six local railway neIworks,
railway IransporIaIion cosIs
are relaIively low in Ukraine,
railway IransporI IariIIs are
sIaIe conIrolled,
all regional railways consIi-
IuIe sIaIe owned company
UkrzaliznyIsya.
c. 600 grain and oilseed silos
operaIe in Ukraine, wiIh IoIal
sIorage capaciIy oI 36 m I
and daily loading capaciIy oI
1.5 m I,
c. 15 oI Ihe counIrys grain
and oilseed silos are sIaIe-
owned,
sIorage capaciIies are noI
disIribuIed proporIionally
IhroughouI Ukraine,
wiIh Ihe average harvesI oI
45 m I oI grains and 10 m I
oI oil seeds, Ukraine may ex-
perience a 10 m I deIiciI oI
silo capaciIy.
Ukraine has a well developed inIrasIruc-
Iure Ior IransporIaIion. To ensure 100 oI
harvesIed grains can be saIely sIored in
Ukraine, invesImenIs in Ihe consIrucIion oI
15-20 m I oI sIorage capaciIy are needed.
=*. &'7"%?*'&7&-*" <*%&% 7"# #,+,6*?,# &'7"%?*'&7&-*" -"@'7%&'$<&$', 7', &2, 87-"
7#+7"&70,% *@ 70'-<$6&$'76 6*0-%&-<% -" M3'7-",
Sugar beeI harvesI in 2011 was Ihe highesI
in Ihe lasI decade and 18.7 m I oI sugar
beeIs were produced in Ukraine compared
Io 13.7 m I in 2010 (+36.2). Seven largesI
Ukrainian producers accounIed Ior c.54
oI IoIal sugar ouIpuI in 2010J11.
/$07' 87'3,& -% 2-026( <*"<,"&'7&,#
D
espiIe Ihe volaIiliIy oI sugar producIion
in Ukraine, posiIive sIrucIural changes
Iook place in Ihe indusIry in Ihe pasI decade,
driving Ihe increase in sugar beeI yields Irom
17.7 I per hecIare in 2000J01 agriculIural
year Io 32 I per hecIare in 2011J12 agricul-
Iural year according Io Ihe SIaIe SIaIisIics
CommiIIee oI Ukraine. During Ihe same pe-
riod, harvesI losses decreased Irom 23 Io
0.8, according Io Ihe Agency oI lndusIrial
News (AlN). These changes were primarily
aIIribuIable Io Ihe inIegraIion oI sugar beeI
and sugar producIion.
/$07' 87'3,&
HJ
Sugar producIion in Ukraine declined beIore
2009, domesIic markeI was proIecIed Irom
imporIs and experienced susIained deIiciI.
These IacIs caused increase in sales prices
up Io USD 1,000 per I by Ihe end oI 2010.
Sugar sales prices declined in 2011 due Io
a big harvesI in a siIuaIion oI exporI limiIa-
Iions.
/-0"-@-<7"& JKHH 27'+,%& *@ %$07' D,,& <7$%,# #,<6-", *@ %$07' ?'-<,%
/$07' ?'*#$<&-*" D( 87-" ?67(,'% -" M3'7-",4 3 &
Y+,'70, %$07' %76,% ?'-<,% -" M3'7-",4 M/B ] &
Source: Uedia reporIs, Companies ReporIs, DeloiIIes analysis
Source: NaIional AssociaIion oI Sugar Producers oI Ukraine "UkrIsukor"
HI
The by-producIs oI Ihe sugar beeI crops
such as pulp and molasses could add c.
10 Io Ihe value oI Ihe harvesI. Bio-Iech-
Ukraine has a number oI sugar producIion
capaciIies IhaI are noI in use. According
Io UkrIsukor (Ukrainian sugar producers
union), in 2010 ouI oI 73 sugar planIs IhaI
received quoIas Ior sugar producIion, only
20 planIs used Iheir quoIa Io Iull exIenI,
ln accordance wiIh a global Irend, meaI
consumpIion in Ukraine has grown in line
wiIh increasing naIional income level. The
Iable below reveals a pronounced correla-
U
eaI markeI is considered Io be rela-
Iively sIable compared Io Ihe markeIs
oI oIher agriculIural commodiIies. This is
explained by a limiIed role oI meaI prod-
nologies like biogas producIion are possible
and could be very proIiIable in Ukraine.
while 7 oI Ihe planIs did noI produce sugar
aI all due Io unavailabiliIy oI raw maIeri-
al. lnvesImenIs in Ihese planIs will cause
improvemenI oI processing eIIiciency and
sugar conversion raIios, and decrease oI
producIion cosIs.
Iion beIween Ihe level oI meaI consumpIion
(measured by processed weighI) and per
capiIa income oI Ihe Ukrainian populaIion.
ucIs as sIaple Ioods along wiIh Ihe limiIed
sIorage capaciIies availabiliIy IhaI hinders
buying meaI producIs in bulk in cases oI
panic on Ihe markeI.
fV*"b.7%&,g ?'*#$<&-*"
P*&,"&-76 *??*'&$"-&-,% @*' -"+,%&8,"&%
A,7& <*"%$8?&-*" -% 0'*.-"0 -" M3'7-",
A,7& 87'3,&
A,7& <*"%$8?&-*"
The Iollowing Iable shows relaIive disIribu-
Iion oI meaI consumpIion in Ukraine and
selecIed counIries beIween beeI, poulIry
and pork in 2010. According Io Ihe SIaIe
SIaIisIics CommiIIee oI Ukraine, meaI pro-
ducIion in Ukraine grew by 7.4 in 2010
reaching 2.06 m I (slaughIered weighI) Irom
1.92 m I in 2009. The Iable below presenIs
Ihe meaI producIion volumes in Ukraine in
2007-2010.
Source: Food and AgriculIural Policy Research lnsIiIuIe
BeeI and veal, kgJcapiIa
Pork, kgJcapiIa
Broiler, kgJcapiIa
Nominal GDP, USDJcapiIa
8.5
13.1
4.5
1,056
10.9
15.4
13.2
3,089
8.4
15.6
17.1
2,568
10.7
12.8
10.1
1,377
11.2
11.6
9.1
1,843
11.7
12.6
11.2
2,319
10.5
18.0
17.7
3,921
8.3
17.0
17.5
2,999
JKKI JKK9 JKKE JKKF JKKX JKKG JKK_ JKHK
H9
A,7& <*"%$8?&-*"
%&'$<&$', -" h1HK
A,7& ?'*#$<&-*" -" M3'7-",
>7&&6, 2,7#<*$"& -" M3'7-",
Per capiIa consumpIion oI meaI in Ukraine
remains below Ihe levels oI developed
counIries. ln 2010, per capiIa consumpIion
oI meaI in Ukraine was 42.8 kg per year
UeaI supply in Ukraine is limiIed, as Ihe
livesIock headcounI has decreased sub-
sIanIially since Ihe SovieI Union collapse.
The Iable below shows hisIorical dynamics
oI caIIle headcounI in Ukraine.
againsI 90 kg per year as nuIriIion sIandard.
Such low level oI markeI saIuraIion leaves
signiIicanI room Ior growIh.
Source: UniIed SIaIes DeparImenI oI AgriculIure
Source: Food and AgriculIural Policy Research lnsIiIuIe
*Preliminary daIa
Source: SIaIe SIaIisIics Service oI Ukraine
CaIIle sIock
China
European Union
Former SovieI Union
M3'7-",
UniIed SIaIes
World
^,,@ U 5,76
ProducIion
ConsumpIion
Ending SIocks
NeI ExporIs
P*'3
World
ProducIion
ConsumpIion
Ending SIocks
NeI ExporIs
^'*-6,'
ProducIion
ConsumpIion
Ending SIocks
NeI ExporIs
26,7 24,6 17,6 10,6 6,5 6,2 5,5 5,1 4,8 4,7 4,5
8
20
32
20
33
24
542
505
15
37
635
715
22
(80)
475
609

(134)
400
385
15
15
527
713
22
(186)
620
782

(162)
480
483
15
(3)
590
828
22
(238)
570
814

(244)
400
378
15
22
650
770
22
(120)
650
795

(145)
74
53
34
41
24
43
18
26
33
40
43
33
8 2,7#% H_GX H__H H__F JKKK JKKE JKKF JKKX JKKG JKK_ JKHK JKHH
>*$"&'( ^,,@ P*'3 P*$6&'( 3 & JKKX JKKG JKK_ JKHK
PoulIry processors will conIinue Io enjoy
compeIiIive advanIage over oIher meaI
producers Ihanks Io poulIry being Ihe leasI
Iodder-inIensive Iype oI meaI (2 kg oI grain
per 1 kg oI poulIry as compared Io 6.0 kg
Ior beeI). Thanks Io large players in Ihis
indusIry invesIing heavily in modernizaIion
and new capaciIies, Ihey boasI much more
advanced Iechnologies compared Io pork
and beeI producers. PoulIry consumpIion
in Ukraine is moderaIely high by inIerna-
Iional sIandards.
The biggesI share in Ihe sIrucIure oI pig
breeding is sIill mainIained by households,
buI iI is very likely IhaI in Ihe nearesI IuIure
households will lose ground Io agriculIural
enIerprises.
DevelopmenI oI pig breeding in Ukraine is
Iollowing Ihe rouIe oI gradual IormaIion oI
highly concenIraIed producIion conglomer-
aIes. By volumes oI breeding, IwenIy largesI
enIerprises accounIed Ior 36.5 oI overall
volume oI pig breeding oI Ihe year 2010.
P*$6&'( ?'*#$<&-*" 27% 7 6*. @*##,' '7&-*
HE
U
kraines egg markeI grew during 2005-
11, reaching 18.7 bn pieces in 2011.
Per capiIa consumpIion sIood aI 281 eggs
in 2010, up Irom 240 Iive years beIore. No-
Iably, egg consumpIion conIinued Io ex-
pand in 2009 even as household income
declined, as eggs are a relaIively cheap
source oI proIein.
ConsumpIion oI eggs in Ukraine is high
and already saIuraIed on per capiIa basis
(c.16.2 kg per capiIa compared Io 13.1 kg
per capiIa in Europe). Expansion in local
markeI is mainly possible Ihrough sIrucIur-
al changes i.e. squeezing ouI household
producIion.
Egg producIs are represenIed by dry egg
powder and are sold mainly Io Ihe Iood
indusIry (producers oI bread, sauce, con-
IecIionary eIc.). The markeI Ior egg prod-
ucIs in Ukraine has enjoyed much IasIer
growIh Ihan Ihe shell egg markeI. Dry egg
producIs are easy Io exporI as Ihey are
noI Iragile like shell eggs and have a much
longer sIorage period as well as much low-
er IransporIaIion cosIs.
:00 87'3,&
Egg markeI in Ukraine is highly concenIraI-
ed. Household producIion Iook c.42 oI Io-
Ial producIion oI shell eggs in 2010. Among
indusIrial producers Avangard has leading
posiIions on Ihe egg markeI (markeI share
is 44 in shell eggs segmenI and 79 in
egg producIs) in 2010. The second largesI
eggs producer is OvosIar Group, which de-
buIed on Ihe WSE in 2010 (5 in shell eggs
segmenI and 19 in eggs producIs).
R*$%,2*6#% 7<<*$"&,# @*' <S9JZ *@ ,00 ?'*#$<&-*"S Y" ,00 -"#$%&'-76
87'3,& -% <*"<,"&'7&,#
!"#$%&'-76 ?'*#$<&-*" *@ ,00% D( ?,,'% -"
M3'7-", -" JKHK4 8 ?<%
B'( ,00 ?'*#$<&% ?'*#$<,# D( ?,,'% -"
M3'7-", -" JKHK4 &
Source: Public inIormaIion Source: Public inIormaIion
U
ilk is one oI Ihe IradiIional producIs
oI livesIock breeding, iIs share in Ihe
sIrucIure oI ouIpuI oI Ihe secIor makes up
nearly 30. However, recenI years have
been marked wiIh unIailing negaIive Irend
volumes oI producIion have been decreas-
ing. Over Ihe lasI decade producIion oI milk
decreased by 12-15 while Ihe populaIion
oI cows decreased by 47. According Io
Ihe SIaIe SIaIisIics CommiIIee oI Ukraine,
volumes oI milk producIion have been saved
Irom Ihe same sharp decline due Io im-
provemenI oI producIiviIy which nearly dou-
bled. The overall ouIpuI oI milk in 2011 was
11,094 m I (all producers) or 1.4 down
Irom Ihe level oI 2010. Uilk producIion is
IradiIionally concenIraIed in households.
The share oI agriculIural enIerprises in Ihe
overall producIion oI raw milk does noI ex-
ceed 18-20. lI is remarkable IhaI in 2010
volumes oI milk producIion aI agriculIural
enIerprises decreased only by 0.9.
Large agri holdings wiIh Iree cash Ilows
available Ior long-Ierm invesImenIs see high
demand Ior qualiIy dairy producIs going
Iorward and seek cooperaIion wiIh inIerna-
Iional dairy companies Io Iake advanIage oI
Iheir indusIry experience.
B7-'( 87'3,&
HF
ln 2010, dairy exporIs accounIed Ior 8
(IlaI y-o-y) oI IoIal Ukrainian milk produc-
Iion (1,895 Ihsd I, +1 y-o-y), while dairy
imporIs accounIed Ior only 2 (-0.7pp y-o-
y) oI IoIal domesIic consumpIion. ln 2010,
Ukraine exporIed 79 Ihsd I oI hard cheese,
mainly Io Russia. Skimmed milk powder
(SUP) was Ihe second largesI exporI iIem
wiIh 21 oI IoIal dairy exporIs, sold mainly
Io Bangladesh, Russia and KazakhsIan.
Average prices Ior milk increased by 53.5
in January 2010 mainly due Io changes in
Iax privileges, as well as due Io a deIiciI oI
milk in Ukraine, growIh in prices Ior cows
Iodder and decrease in producIion volumes.
A-63 7+,'70, %76,% ?'-<, -" M3'7-",4 M/B] &
R7'# <2,,%, 7"# #'( %3-88,# 8-63 .,', &2, 8*%& %-0"-@-<7"& ,;?*'& -&,8%
O
ver Ihe lasI Iive years Ihe Ierm "agro-
holding" has emerged and became
common Ior descripIion oI agriculIural pro-
ducIion in Ukraine. This Iype oI producIion
sIrucIure having several compeIiIive advan-
Iages in producIion as well as in invesImenI
sphere is expanding iIs inIluence aI nearly
every Iield oI agriculIural acIiviIy, acIively
consolidaIing Ihrough leasehold Ihe main
producIion resource agriculIural land.
LasI Iendencies in Ihe Ukrainian agrohold-
ings acIiviIies:
The grain markeI in 2010J2011 was
characIerized by a high level oI admin-
isIraIive inIervenIion, i.e. quoIas (Iill
31 Uarch 2011 and Ihe exporI duIies
Io 1 January 2012), which led Io Ihe
revision oI Ihe prioriIies oI exporI-ori-
enIed agriculIural holdings specialized
in soybean, rape seed and corn.
Low quoIas and high IariII made Ihe
barley crop less aIIracIive Ior growing,
while corn has become very aIIracIive
due Io high economic reIurns and sIa-
ble excess demand in Ioreign markeIs.
Sugar segmenI is characIerized by a
high degree oI consolidaIion as a re-
sulI oI asseIs purchase IransacIions oI
Kernel and UkrlandIarming sugar com-
panies. This Irend will conIinue.
ln Ihe dairy secIor, Ihe selling price oI
milk and dairy producIs increased by
60 as a resulI oI which Ihe proIiIabiliIy
oI milk producIion amounIed Io 17.5.
Uoreover, Ihere is a lack oI qualiIy raw
milk producIs. Due Io such IacIors, Ihe
secIor is aIIracIive Ior invesIors.
ln livesIock, inIegraIion processes
dominaIed Ihe poulIry indusIry; how-
ever in 2010 Ihey also sIarIed Io play
a noIable role in Ihe pig breeding in-
dusIry. ln Ihe near IuIure, consolidaIion
and expansion oI producIion capaciIy
will conIinue.
Today, agriculIural holdings are paying
careIul aIIenIion Io Ihe culIivaIion oI po-
IaIoes (Uriya, Svarog, lUC). The barri-
ers Iaced in Ihis Iield are as Iollows: Ihe
need in cosIly invesImenIs in Ihe inIra-
sIrucIure, logisIics and markeIing.
A7-" 70'- ?67(,'%
Source: SIaIe SIaIisIics Service oI Ukraine
HX
During 2010 and Ihe IirsI halI oI 2011 Ihe
process oI consolidaIion oI land resources
kepI going and even considerably sped up
Since Ihe downIurn oI 2009, agriculIural
companies have been Ihe undispuIable
leaders oI lPO acIiviIy, and currenIly 15 ag-
Ukrainian agriculIural holdings have higher
eIIiciency Ihan world peers mainly due Io
as compared Io 2009. ln Ihe middle oI 2011
Ihere were 79 large holdings in Ukraine wiIh
IoIal land bank oI 5.1 m ha.
riculIural and Iood processing companies
Irom Ukraine are lisIed on Ioreign and do-
mesIic sIock exchanges.
low producIion cosIs (inexpensive labor
Iorce and low land renI raIes).
N,%*$'<,% <*"%*6-#7&-*"
Y "$8D,' *@ M3'7-"-7" 70'- D$%-",%%,% 7', ?$D6-< 7"# 6-%&,#
M3'7-"-7" 70'- 2*6#-"0% 7', 2-026( ?'*@-&7D6,
L2, 6,7#,'% *@ &2, 70'- 87'3,& -" &,'8% *@ 67"# ',%*$'<,% LOP HK
* ProducIion sIrucIure: Crops J LivesIock
Source: Public inIormaIion, Top 100 RaIing oI Ihe besI companies in Ukraine (=3, OcIober, 2011)
UkrlandIarming
NCH CapiIal
Ukrainian Agrarian
lnvesImenIs
UHP
Uriya
AsIarIa
HarvEasI
Kernel
PrivaI Agro holding
Valinor
482
449
330
280
240
240
226
210
150
123
89J11
94J6
99J1
10J90
99J1
83J17
51J49
86J14
74J26
95J5
Corn, sugar beeI, grain,
barley, rape seed
Grain ,rape seed, soy-
bean, sunIlower, corn
Grain, sunIlower, rape
seed, corn, soybean
Corn, grain, sunIlower,
IruiIs, soybean
Sugar beeI, grain, poIa-
Ioes, rape seed, barley
Sugar beeI, grain, soy-
bean, corn, sunIlower
Grain, sunIlower,
barley, corn, peas
Sugar beeI, grain, corn,
sunIlower, barley
SunIlower, corn, grain,
soybean, barley
Grain, sunIlower,
corn, barley, rape seed
Uilk, cows, pigs
Uilk, pigs, cows
Uilk, cows
PoulIry, eggs,
cows
Uilk, pigs, cows
Uilk, cows, pigs
Uilk, cows, pigs
Uilk, cows, pigs
Uilk, pigs, cows
Uilk, cows, pigs
Company name Land bank, SpecializaIion Uain crops LivesIock
Ihsd ha
HG
No special requiremenIs Ior licensing are im-
posed on parIicipanIs oI agriculIural secIor.
However some Irade resIricIions in a Iorm
oI quoIas and exporI duIies (boIh direcI and
indirecI like cancellaIion oI VAT reimburse-
menI Ior Iraders) inIended Io cover SIaIe
budgeI deIiciI are usually noI imposed Ior a
long period oI Iime. ln addiIion, Ihe Govern-
menI oI Ukraine has a power Io conIrol pric-
es Ior agriculIural commodiIies in a number
oI ways: e.g. seIIing limiIs on exIra charges
or discounIs Ior cerIain Iypes oI agriculIural
commodiIies; seIIing limiIs on proIiIabiliIy oI
wholesale and reIail Iraders; seIIing minimum
and maximum inIervenIion prices Ior cerIain
Iypes oI agriculIural commodiIies.
AI Ihe same Iime Ihere exisI a number oI
ways Ior companies Io limiI Iheir exposure Io
such resIricIions and regulaIion. lI is Ihere-
Iore imporIanI Io properly disclose impacI oI
Irade resIricIions and speciIic regulaIions on
a business and iIs Iinancial perIormance.
Among Ihe recenI sIaIe incenIives in Ihe agri
secIor Ihe removal oI Ihe grain exporI quo-
Ias should be noIed. The abolishmenI oI Ihe
regulaIed prices Ior some agri IoodsIuIIs is
debaIed abouI Irom Iime Io Iime. Produc-
Iion oI eiIher animal or vegeIable IoodsIuIIs
involves compliance wiIh saniIary rules and
oIher sIandards.
A7-" @-"7"<-76 -"#-<7&*'% @*' &2, 67%& @-"7"<-76 (,7'd
M3'7-"-7" ?$D6-< 70'- 2*6#-"0% +%S &2, .*'6#
Kernel Holding
UHP
Avangard
Uilkiland
AsIarIa Holding
Uriya Agro Holding
AgroIon
Ukrainian average
USA
LaIin America
WesIern Europe
EasIern Europe
Uiddle EasI, AIrica
Asia developed
counIries
Asia-developing
counIries
1,899
944
440
343
291
162
97
310
325
194
59
134
158
35
16.3
33.0
44.0
17.1
46.0
nJa
36.0
34.6
12.1
12.9
20.4
7.9
15.2
6.6
17.7
226
215
185
29
106
144
16
14.6
26.0
41.0
13.5
40.0
nJa
30.0
27.4
8.2
8.7
17.3
3.4
4.5
3.3
12.1
1.0 x
2.0 x
0.3 x
0.95 x
1.1 x
nJa
0.1 x
11.9
21.0
36.0
8.5
36.0
nJa
16.0
27.5
3.6
10.2
11.6
3.4
4.9
4.4
8.8
CompanyJ
Region
Revenue,
USD m
EBlTDA,
USD m
NeI proIiI,
USD m
NeI debIJ
EBlTDA
EBlTDA
margin,
EBlT
margin,
ProIiI
margin,
C*+,'"8,"& ',0$67&-*" 7"# %$??*'&
=-<,"%,%4 ?,'8-&% 7"# ',%&'-<&-*"%
Source: Companies annual reporIs, Top 100 RaIing oI Ihe besI companies in Ukraine (=3, OcIober, 2011)
H_
The basic regulaIory acIs are Ihe Land Code
and Ihe Laws oI Ukraine "On sIaIe supporI oI
agriculIure", "On saIeIy and qualiIy oI Iood-
sIuIIs", "On prices and pricing policy", "On
grain and grain markeI in Ukraine", "On sIaIe
regulaIion oI producIion and markeIing oI
sugar" eIc.
The Iurnover oI agriculIural land being Ihe
basis Ior Ihe agriculIural producIion is sub-
jecI Io duraIional moraIorium eIIecIive Irom
2002. ln parIicular, Ihe moraIorium has been
seI Ior sale and purchase or oIher Irans-
Ier, as well as Ior changing Ihe designaIion
purpose oI agriculIural land. LegislaIion IhaI
will enable Ihe land markeI operaIion and
cancellaIion oI Ihe moraIorium in Ukraine is
Ukrainian Iax legislaIion allows agriculIural
producers Io choose beIween special Iax
regimes and Ihe general sysIem oI IaxaIion.
Two oI Ihe mosI beneIicial sIaIe-oIIered ad-
vanIages oI Ihe special Iax regime Ior Ihe
agriculIural producers are subsidy VAT re-
gime, and Ihe Iixed agriculIural Iax (IurIher
"FAT"). A company is eligible Ior boIh sub-
sidies iI more Ihan 75 oI Ihe companys
IoIal gross revenue is generaIed Irom agri-
culIural acIiviIy. The rules Ior calculaIion oI
Ihis 75 raIio slighIly diIIer Ior VAT and FAT
regimes.
Companies IhaI qualiIy Ior Ihe subsidy VAT
regime are enIiIled Io reIain VAT on sales
oI agriculIural producIs, neI oI VAT paid on
purchases, Ior use in agriculIural produc-
Iion. ln accordance wiIh Ihe Tax Code oI
Ukraine, Ihe VAT raIe will be decreased
Irom currenIly eIIecIive 20 Io 17 Irom
The main regulaIory auIhoriIies in Ihe secIor
are Ihe UinisIry oI Agrarian Policy oI Ukraine
and Ihe UinisIry oI Economic DevelopmenI
and Trade oI Ukraine. The regulaIory auIhor-
iIy relaIed Io pricing is also exercised locally
by municipal bodies.
yeI Io be adopIed. ln parIicular, Ihe law oI
Ukraine on land markeI is expecIed Io be
adopIed during 2012.
As long as Ihe moraIorium is noI cancelled
all Ihe markeI players in Ihe agriculIural in-
dusIry operaIe on Ihe basis oI land lease
agreemenIs.
1 January 2014. The special VAT regime
Ior agriculIural indusIry will be eIIecIive Iill 1
January 2018.
FAT regime exempIs Ihe agriculIural com-
panies Irom ClT, land Iax, waIer usage Iax
and Irade paIenI Iees. The advanIage oI Ihe
FAT regime is IhaI Ihe amounI oI FAT does
noI depend on Ihe amounI oI a companys
income. lnsIead iI is calculaIed based on
Ihe IoIal area and value oI Ihe land which is
eiIher owned or renIed by Ihe Iaxpayer.
The agriculIural companies which did noI
opI Ior Ihe FAT are required Io pay Ihe land
Iax imposed on owners and users oI land.
The amounI oI Iax payable depends on
Ihe use (e.g. Iarmland) and locaIion oI Ihe
land. AgriculIural land is Iaxed aI a raIe oI
0.03-0.1 oI Ihe esIimaIed value which is
normally immaIerial Ior mosI oI agriculIural
producers.
^7%-< ',0$67&*'( 7<&% 7"# 7$&2*'-&-,%
A*'7&*'-$8 *" %76, *@ 70'-<$6&$'76 67"#
L7;7&-*" 7"# %&7&, %$??*'& &* 70'-<$6&$'76 ?'*#$<,'%
JK
EsIablishmenIJinsIiIuIion DescripIion ConIacI deIails
:%&7D6-%28,"&% 7"# -"%&-&$&-*"%
A-"-%&'( *@ Y0'7'-7"
P*6-<( *@ M3'7-",
O'07"-< h,#,'7&-*"
Y0'7'-7" h$"#
M3'7-"-7" Y0'7'-7"
>*"@,#,'7&-*"
Y0'7'-7" M"-*"
*@ M3'7-",
Y%%*<-7&-*" *@ h7'8,'%
7"# P'-+7&, =7"# O."b
,'% *@ M3'7-",
M3'7-"-7" C'7-"
Y%%*<-7&-*"
M"-*" *@ P*$6&'(
h7'8,'% -" M3'7-",
GovernmenIal insIiIuIion.
Uission is Io work Ior Ihe develop-
menI oI rural areas and improve-
menI in agriculIure and livesIock
producIion
GovernmenIal insIiIuIion.
Uission is Ihe conservaIion and
regeneraIion oI Ihe environmenI
Ihrough Ihe inIroducIion oI organic
Iechnologies in producIion
GovernmenIal insIiIuIion.
Uission is Ihe realizaIion oI Ihe
pricing policy on behalI oI Ihe sIaIe
All-Ukrainian public organizaIion.
The aim oI Ihis organizaIion is Io
mainIain a susIainable develop-
menI oI Ukrainian agro-indusIrial
complex and promoIe iIs inIegra-
Iion inIo Ihe world markeI
All-Ukrainian public organizaIion.
Uission is Io uniIe Ihe eIIorIs oI
large Iarms Ior increasing produc-
Iion, improving iIs qualiIy and eI-
Iiciency oI managemenI based on
markeI demands; creaIe Iavorable
condiIions Ior living and work oI Ihe
agro workers
All-Ukrainian public organizaIion.
The purpose oI Ihe AssociaIion is
Io promoIe mass Iarming move-
menI in Ukraine and proper public
conIrol over Ihe auIhoriIies in pro-
IecIing Ihe righIs and legal inIer-
esIs oI Iarmers and landowners
All-Ukrainian public organizaIion.
Uission is Io proIecI iIs members
inIeresIs boIh on domesIic and in-
IernaIional levels and develop Ihe
domesIic grain markeI
All-Ukrainian public organizaIion.
Uission is Io consolidaIe Ihe eIIorIs
oI Ihe indusIry players Io address
Ihe common problems and supporI
Ihe inIeresIs oI Ihe poulIry Iarmers
in IronI oI Ihe sIaIe adminisIraIion
24, KhreshchaIyk sIr.,
Kyiv 01001
Email: minisIer@minapk.gov.ua
Tel: (+380 44) 279-84-74
web-siIe: www.minagro.gov.ua
4, Obolonska sIr., Kyiv 04071
E-mail: oIu@organic.com.ua
Tel: (+380 44) 425-55-25;
Fax: (+380 44) 425-45-90
web-siIe: www.organic.com.ua
1, Borisa Grinchenko sIr.,
Kyiv 01001
Tel: (+380 44) 278-78-43,
277-27-00
Fax: (+380 44) 279-74-01
web-siIe: www.aI.gov.ua
53J80, Saksaganskogo sIr.,
oIIice 807, Kyiv 01033
E-mail: agroconI@agroconI.org
Tel.JFax: (+380 44) 287-65-66,
289-97-21
web-siIe: www.agroconI.org
24, KhreschaIyk sIr., oII. 504-505
01001 Kyiv
E-mail: agrouu@gmail.com
Tel. (+380 44) 226-30-42;
Fax (+380 44) 278-29-84
web-siIe: www.auu.org.ua
21, PaIrisa Lumumby, oII.411
01042 Kyiv
E-mail: aIzu@Iarmer.co.ua
Tel: (+380 44) 501-78-73,
228-48-19
web-siIe: www.Iarmer.co.ua
13, Predslavynska SIr.,
03680 Kyiv
E-mail: inbox@uga.kiev.ua
Tel: (+380 44) 528-67-64
Fax: (+380 44) 528-67-99
web-siIe: www.uga-porI.org.ua
E-mail: karpenko@pIaha.kiev.ua
Tel: (+380 44) 494-49-30
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All-Ukrainian public organizaIion.
Uission is Io consolidaIe Ihe eIIorIs
oI Ihe indusIry players Io address
Ihe common problems and supporI
inIeresIs oI Ihe milk producers in
IronI oI Ihe sIaIe adminisIraIion
All-Ukrainian public organizaIion.
Uission is Io coordinaIe and sup-
porI iIs members in addressing
common organizaIional, economic,
Iechnical and oIher issues
All-Ukrainian public organizaIion.
Uission is Io coordinaIe and sup-
porI iIs members in addressing
common organizaIional, economic,
Iechnical and oIher issues
All-Ukrainian public organizaIion.
The mission is Io promoIe Ihe de-
velopmenI oI viIiculIure and wine-
making in Ukraine
All-Ukrainian public organizaIion.
OrganizaIions objecIive is real-
izing and proIecIing Ihe civil, so-
cial, economical, proIessional and
oIher inIeresIs and liberIies oI iIs
members Ihrough assisIance in
implemenIaIion oI educaIional and
scienIiIic acIiviIies in agriculIural
business sphere
EducaIional and scienIiIic acIiviIies
in agriculIural business sphere
ConsulIing and analyIical services
Ior agro and Iood secIors
lnIormaIion and AnalyIical CenIre
Ior agriculIural and chemical busi-
nesses
1,Grinchenko sIr,
01001 Kyiv
E-mail: e-mail@ukrmolprom.kiev.ua
Tel: (+380 44) 226-27-83,
(+380 44) 279-83-89;
Fax: (+380 44) 279-73-89
1,Grinchenko sIr,
01001 Kyiv
E-mail: admin@ukroilprom.kiev.ua
TelJFax: (+380 44) 226-31-38
(+380 44) 279-63-56,
(+380 44) 279-82-45,
(+380 44) 279-68-89
web-siIe: www.ukroilprom.kiev.ua
1,Grinchenko sIr,
01001 Kyiv
E-mail:mail@ukrsugar.com
Tel: (+380 44) 227-31-41
Fax: (+380 44) 279-66-83
web-siIe: www.sugarua.com
4, Vinogradniy lane, oII. 2
01021 Kyiv
E-mail: doa@lisI.ru
Tel: (+380 44) 253-07-06,
(+380 44) 253-26-83
web-siIe: www.awwu.org.ua
20A,Velyka ZhyIomyrska sIr., oIIice 53
01034 Kyiv
E-mail: inIo@agribusiness.kiev.ua
Tel: (+380 44) 201-49-50
Fax: (+380 44) 201-49-51
web-siIe: www.agribusiness.kiev.ua
21,Checherina sIr,3rd Iloor
49006 DnipropeIrovsk
E-mail:inIo@apk-inIorm.com
TelJFax: (+380 56) 232-07-95
web-siIe: www.apk-inIorm.com
29B,Tymoshenko sIr,oII.5
04205 Kyiv
Tel: (+380 44) 451-46-34
Fax: (+380 44) 451-46-34
web-siIe: www.ukragroconsulI.com
LLC "Agrarika" PO Box 90
03191 Kyiv
E-mail: clienI@agroperspecIiva.com
TelJFax: (+380 44) 220-24-51
web-siIe: www.agroperspecIiva.com
JJ
1. Land Code of Ukraine.
2. Law of Ukraine On state support of agriculture.
3. Law of Ukraine On safety and quality of foodstuffs.
4. Law of Ukraine On prices and pricing policy.
5. Law of Ukraine On grain and grain market in Ukraine.
6. Law of Ukraine On state regulation of production and marketing of sugar.
7. Wheat Export Economy in Ukraine // FAO, July 2012
8. Agriculture in Ukraine: Ready to Feed the World // Dragon Capital. 133 p.
9. The largest agricultural holdings in Ukraine: on the threshold of restructuring (available only in
Ukrainian / Russian) // Association Ukrainian Agribusiness Club. yiv, 2011. 121 p.
10. Agriculture. Sector Primer // Investment Capital Ukraine. Dec, 2010. 60 p.
11. Ukrainian crops: farms over traders. // Renaissance Capital. Aug, 2010. 47 p.
12. Key Trends of the Grain and Oilseed Market in Ukraine in the Second Half of 2011/12 // APK-
Inform Agency. 27 p.
13. Ukraine: first results of new grain export season (available only in Ukrainian / Russian) // APK-
Inform, September 2011.
14. Agriculture in 2011 // Ekspres-vypusk. State Statistics Service of Ukraine. 2 p.
15. State Statistics Service of Ukraine www.ukrstat.gov.ua
16. National Association of sugar producers of Ukraine Ukrtsukor sugarua.com
17. APK-Inform. www.apk-inform.com.
18. International Grains Council - igc.net.
19. Top 100 Rating of the best companies in Ukraine (#3, October, 2011).
20. United States Department of Agriculture. www.usda.gov.
21. Food and Agricultural Policy Research Institute. www.fapri.iastate.edu.
22. Food and Agriculture Organization of the United Nations www.fao.org.
23. Annual reports, audited and unaudited financial statements of agricultural companies.
Companies web-sites.
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