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Ukraine : Mechanism for the state forward purchases of grain has been improved.

The Cabinet of Ministers has amended the procedure for conducting state forward purchases of grain. The corresponding decree ? 879 was taken at a meeting of the Government on September 24, 2012.

According to the decision, a number of changes are provided to improve the state of the Agrarian Fund forward purchases of grain. In particular, the final payment on the contract will be based on average prices of equilibrium (fixing), developed over the last three sessions of the Agrarian Exchange and its certified accredited commodity exchange prevailing at the time of delivery, less the weighted average of interest on bank loans granted for up to 12 calendar months, as advised by the National Bank.

Financial interventions will be carried by the Agrarian Fund through the purchase of individual objects of state price regulation in the organized agricultural market under the spot or forward in order to establish equilibrium prices (fixing) in size, which is not less than the minimum intervention prices.

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Publication:Mena Report
Geographic Code:4EXUR
Date:Sep 27, 2012
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