The prices for primary products, which Ukraine exports, are falling subsequent to drop in oil prices Кореспондент.net reports.
Ukraine, as Russia and many other countries, sells predominantly primary products on the global market, which is why the drop in oil prices expectedly does not lead to growth in prosperity of the population. The former Chairman of the NBU, the former First Vice President Serhei Arbuzov, expressed such opinion on his Facebook page.
“Since the beginning of 2014 oil price actually decreased 2.8 times on average, but the drop in prices for flagman Ukrainian commodities – wheat, made up 1.8 times, and for iron ore – 3.4 times. If this is compared with the peak value of each product, then differences will be dramatic – oil has decreased 3.6 times, and the ore – 4.7 times”, he reports.
Serhei Arbuzov reminded that Ukraine sells on the global market the same primary products that their eastern neighbors.
“Actually, we are sitting in one boat with them. That’s why it’s stupid to be glad of another hole”, he wrote.
It should be reminded that in London Exchange trading ICE Futures, on January 20, March futures quote for Brent made up USD 27.91 per barrel, which is by $0.85 (2.96%) lower than the closing price on Tuesday, January 19. During the session the price decreased to USD 27.77 per barrel.
It should be reminded that oil price decreases amid lifting sanctions from Iran and possible glut of this raw material in the world.
