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Agrarian Fund pays Hr 1.3 billion to farmers for forward grain purchases

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Oct. 3, 2012, 2:40 p.m. | Business — by Interfax-Ukraine

The Agrarian Fund of Ukraine has paid UAH 1.3 billion to farmers for forward purchases of grain.
© AFP

The Agrarian Fund of Ukraine has paid UAH 1.3 billion to farmers for forward purchases of grain from the 2012 harvest, the fund's press service has said.

"The Agrarian Fund signed contracts for the supply of 876,000 tonnes of grain worth UAH 1.6 billion, UAH 1.3 billion of which has been transferred to agricultural producers," Agrarian Fund Director General Ihor Yakubovych said.

According to him, the delivery of grain will expire on November 1. Farmers in Volyn region have fully fulfilled the conditions of forward contracts. The level of contract fulfillment in Luhansk region is 97%, in Ivano-Frankivsk region 94%, in Donetsk region 92%, in Zhytomyr and Kharkiv regions 86% respectively.

The official said that the grain purchased under forward contracts would be used for the production of the most popular kinds of bread.

As reported, the Agrarian Fund of Ukraine in the current year signed forward exchange contracts for the purchase of 875,800 tonnes of 2012 harvest grain worth UAH 1.6 billion.

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