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Ukraine's agriculture ministry, grain traders to agree grain export volumes

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July 31, 2012, 2:15 p.m. | Business — by Interfax-Ukraine

The Agricultural Policy and Food Ministry of Ukraine and representatives of nongovernmental organizations have agreed to determine and agree volumes of grain exports for the 2012/13 agricultural year.
© AFP

The Agricultural Policy and Food Ministry of Ukraine and representatives of nongovernmental organizations, including those uniting grain producers and exporters, have agreed to determine and agree volumes of grain exports for the 2012/13 agricultural year (July-June).

An Interfax-Ukraine correspondent has reported that an annex to a memorandum of mutual understanding between the government and profile nongovernmental organizations of Oct. 11, 2011 was signed in Kyiv on Tuesday.

The document foresees the prolongation of the memo's term.

It is expected that if restrictions on grain exports are introduced, the Agricultural Policy and Food Ministry will inform market players two months ahead of the decision being taken.

"The document [the memo of understanding] is important for the market, so as not to cause losses from a ban on grain exports announced earlier," President of the Ukrainian Grain Association Volodymyr Klymenko said after the signing of the annex to the memo.

Agricultural Policy and Food Minister Mykola Prysiazhniuk, in turn, said that there are no grounds for restricting grain exports in Ukraine. He said that taking into account the expected harvest of 45-46 million tonnes, and ending stocks of 11 million tonnes, the total supply of grain will cover the needs of the domestic market in full and will allow the country to export large volumes of grain.

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