April 12, 2011
 

Ukraine's quota earnings to be used for grain production

The earnings from the sale of export grain quotas at auctions are to be used for realisation of the state support of grain production in Ukraine, announced Nikolay Prysiazhnyuk, Minister of Agrarian Policy and Food of Ukraine.

The minister gave the assurance that the government does not intend to continue imposing grain export limits, including the regime of quotas, after July 1, 2011.

According to the head of the Ministry, the current term of the quota regime will remain in effect until July 1, 2011. Additionally, the Government provided additional quotas for the sale of two million tonnes of corn at auctions. Simultaneously, the authorities intend to utilise the sums of money to increase grain output.

As a reminder, on March 30, the cabinet of ministers of Ukraine made the decision to extend the regime of grain export caps until July 1, 2011.