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State Reserve asks Cabinet for exchange market grains purchases permission
26.06.2008 13:36 "Agro Perspectiva" (Kyiv) —
State Committee for Material Reserves (State Reserve) is going to switch from tender to exchange market grains purchases, reported State Reserve referring to its Jun 23 Collegium results. “Exchange market sales have been recognized as the most efficient mechanism to purchase grains for putting into storage. In order to use this mechanism in 2008/09 MY, State Reserve has elaborated Cabinet draft Decree “About Grains Purchases in 2008/09 MY for State Committee for Material Reserves,” runs report. As to report, State Reserve isn’t satisfied with present tender purchases procedures as they do not permit to promptly react on market changes and slacken participants activity. As to Agro Perspective earlier report, State Reserve had appointed first tender (to purchase 200,000 MT 2008 crop grains) on Jul 16.
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