April 11, 2012

Ukrainian Agrarian Fund slashes rye's minimum volume batch

The Ukrainian Agrarian Fund has lowered the minimum batch of rye to purchase under forward contracts to 50 tonnes, according to a posting on the fund's official website.

Earlier the minimum batch of grain was set at no less than 500 tonnes for agricultural producers and no less than 200 tonnes for farmers.

As reported, from March 30, 2012, the Agrarian Fund is to start state forward purchases of bread wheat and rye from the 2012 harvest. The fund will buy 1.294 million tonnes of grain.

The fund said that minimum intervention prices that will be set for forward purchases of second class wheat are UAH1,909 (US$237.76) per tonne, for third class wheat UAH1,800 (US$224) per tonne, and for the fourth class wheat UAH1,729 (US$215) per tonne.

The minimum price for first class rye was set at UAH1,725 (US$214) per tonne, for second class rye UAH1,643 (US$204) per tonne, and for third class rye UAH1,565 (US$195) per tonne.