Ukraine, formerly the breadbasket of the Soviet Union, is now a major crop producer for the world market. The country has over 32 million hectares (ha) of arable land, which is equivalent to roughly one third of the arable land in the entire European Union (EU) (FAOSTAT, 2012). Its location on the Black Sea and its fertile black soil – it possesses 25 percent of the world’s so-called Chernozem – make Ukraine attractive to agricultural producers and investors.