State Reserve to start processing grains into flour on its companies instead of selling

23.04.2007 10:33 "Agro Perspectiva" (Kyiv) — Ukrainian State Committee for Material Reserves (State Reserve) is going to stop selling grains from its reserves to private companies; Committee plans to process grains into flour on its companies facilities, reported State Reserve Chairman Viktor Kyrychenko.

«I am convinced State Reserve grains shouldn’t be sold ant more to private companies. These grains are to be sold only to companies belonging to State Reserve system so that they process grains into flour and sell it off thereupon. That will become a strong lever to influence/stabilize this market,» emphasized Kyrychenko.

State Reserve Chairman admitted Committee had already sold 125,000 MT grains from total planned 305,500 MT; Kyrychenko made it known remaining grains volume would be also sold to State Reserve system companies.

As to Agro Perspective earlier report, Cabinet had commissioned State Reserve to sell in total 305,500 MT grains in order to stabilize market.

As to Agro Perspective, this Mar State Committee for Material Reserves had declared it would start country grains market interventions in near future in order to stabilize bread sale prices.

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