Biotech Updates

Ukraine to Invest on Agri to Help Fight Hunger

October 15, 2010

Ukrainian Agrarian Confederation President Leonid Kozachenko expressed their country's eagerness to help solve the global food challenge during his speech at the Ukrainian Grain Congress held in Kyiv last 6 October 2010. He believes that if they double the use of fertilizer and machinery in agriculture, their crop yield will increase by 40%, and thus help feed more people around the world.

"The only thing that can lift our agriculture is investing. The state cannot solve the problem of lack of funds through budget. Large agricultural holdings have already invested about USD 1 billion in agriculture of our country, but to achieve a breakthrough we need ten years and at least USD 20-25 billion of investment in plant breeding, USD 10-15 billion - for food industry, USD 3-5 billion - for the production of biofuels, USD 15-20 billion - for cattle breeding," the expert stated.

He predicts that when these plans would be implemented, Ukraine will produce 105 million tons of grain by 2050, which is 4.2% of world production and control 15% of world exports, taking the third place in the world.

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