July 26, 2010

Ukraine to increase grain purchase prices

The Ministry of Agrarian Policy of Ukraine plans to initiate a 20% increase in purchase prices for grain through the Agrarian Fund.

"Considering the rise in corn prices, and to encourage producers to sell grain for the Agrarian Fund, we will suggest a draft resolution at a meeting of the Cabinet of Ministers to raise a purchase price through the Agrarian Fund. According to calculations, the correction will be within 20%," said Agrarian Policy Minister Mykola Prysyazhnyuk.

He has noted that the Agrarian Fund this year plans to purchase about 4-5 million tonnes of grain.