December 13, 2011

Ukraine seeks to sign long-term grain contracts with Lebanon

Ukraine is looking at signing long-term contracts with Lebanon for grain stocks, stated Prime Minister Mykola Azarov on December 9.

He noted that Lebanon is constructing a very large grain terminal with the expected capacity of up to 150,000 tonnes of crops a day.

Press secretary Vitalii Lukiyanenko said that delivery of Ukrainian crops had also been discussed at the meeting with representatives of Lebanese business.

He said that in course of the meeting, Azarov assured businessmen of stability of the market of crops in Ukraine and added that Ukraine hoped for reaching 70 million tonnes of crop yield within forthcoming years.

In November 2010, Ukraine announced readiness to export 100,000 tonnes of bread wheat to Lebanon a year.

In May 2011, the Cabinet of Ministers cancelled quotas for grain export.