July 1, 2009
Ukraine to buy 1.5 million tonnes of grain in Jul-Sept
Ukraine's Agrarian Fund plans to purchase about 1.5 million tonnes of grain during the first quarter of its 2009-10 marketing year, according to the Ukrainian Agriculture Ministry.
Purchases will begin on July 1, with around UAH1 billion on the accounts.
The Agriculture Ministry proposed that farmers work with the Agrarian Fund according to a collateral mechanism. The government has also set the payment rate for the use of budget loans using grain as collateral at 9.05 percent, up from 8.7 percent in the previous marketing year.
In addition, Ukraine has so far harvested 1.459 million tonnes of the 2009 grain crop as of June 30. Analyst UkrAgroConsult sees the crop at 39.8 million tonnes this year.
