Ukraine's food industry suffers losses
2011-05-04 14:21:11
Ukraine's food industry suffers significant losses as in the first quarter of 2011 they amounted to UAH 645 million (USD 1 - UAH 7.97), Oleh Yukhnovsky, chairman of the agribusiness entrepreneurs committee at Chamber of Commerce and Industry of Ukraine, said during a round table.
"Thus, we can say that 46% of the food industry operates at a loss, and it is a critical indicator," he stated.
According to the official, the work the food industry companies is strongly influenced by a multitude of administrative restrictions. "Many businesses are forced to curtail production or convert, though the food industry has always been a leader in attracting investment," the expert said.
In his opinion, the annual volume of investment in the food industry to stabilize the situation should be UAH 35-40 billion.