Ukraine seeks to initiate grain exchange

Ukraine is initiating creation of a grain exchange for countries in the Black Sea region.

 

First Deputy Agricultural Policy Minister Serhii Melnyk announced this at a press conference. Melnyk said that the Agricultural Policy Ministry intended to propose that several countries in the Black Sea region create a grain exchange together with Russia, Kazakhstan, and other countries.

 

Melnyk stressed that Ukraine has a sufficiently developed infrastructure for this in the region and said that this was an advantage. According to him, this will allow influencing of world prices.

 

Agricultural Policy Minister Mykola Prysiazhniuk said that the Chicago commodity exchange intends to become a founder in this project.

 

Speaking about the creation of the grain pool with the participation of Ukraine, Russia and Kazakhstan, Prysiazhniuk said that Russia has slowed down the process and Ukraine is not interested in this issue.

 

According to earlier media reports, Ukraine has expressed interest in construction of a grain terminal at a Ukrainian port together with Kazakhstan.