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Cabinet permitted Agrarian Fund to purchase grains at average prices
15.08.2008 14:19 "Agro Perspectiva" (Kyiv) —
As to Cabinet Decree № 703 (from Aug 6, 2008), Cabinet has allowed Agrarian Fund to purchase grains to State Food Reserve at average prices.
As to Decree, Government permitted Agrarian Fund to purchase 2008 food grains in order to form State Food Reserve (with no reference to State prices regulation) at average prices formed on Ukrainian Agrarian Exchange Market/other certified accredited commodity
exchange markets within last 3 sessions.
However, if purchase prices decline down to Cabinet fixed minimal, Agrarian Fund should start purchasing directly from agricultural companies at minimal prices established for State prices regulation objects, says Decree.
It is to be reminded, due to Ukrainian current legislation, Agrarian Fund should purchase in 2008 food grains to State Food Reserve as much as 14% of total State Food Reserve volume (881,000 MT).
In 2007, Agrarian Fund purchased 428,500 MT grains (2007 crop) to form State Food Reserve.
Agrarian Fund functions as Ministry of Agrarian Policy structural subdivision; Fund performs foods market interventions.
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