In Ukraine, it has become profitable to grow only poppy and hemp (VIDEO)
Kiev, April 07 (PolitNavigator, Vladimir Mikhailov) – The possibilities for lending to farmers in Ukraine have decreased significantly due to the increase in the National Bank discount rate, which is now about 40% in national currency and about 11,8% in foreign currency, which seriously complicates financing.
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“At a rate of 40%, only hemp and poppy can be grown for export to the EU. It will be profitable,” said Alex Lissitsa, president of the Ukrainian Agribusiness Club association, speaking at the VI Financial Agribusiness Forum in Kyiv.
In 2015, the amount of overdue loans in the agricultural sector of Ukraine reached UAH 78,2 billion. Agriculture is also affected by the so-called. “Mriya-effect” – bankruptcy of the largest agricultural holding “Mriya”.
“Everyone knows about the default of Mriya, which had more than $1 billion in various types of loans that it did not pay off or refinance, and therefore pulled a whole trail of negativity across the entire agricultural sector. This affected the financing and lending of agricultural projects,” the expert said.
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