Business news from Ukraine

GOVERNMENT PERMITS CREATING BATCHES OF GRAIN OF VARIOUS CLASSES AT ELEVATORS FOR EXPORT

24 November , 2016  

KYIV. Nov 24 (Interfax-Ukraine) – The Ukrainian government has approved a resolution permitting the creation of batches of grain of various classes at elevators for export.

“A strange requirement is in effect in Ukraine. When you send grain of various classes for export and when it crosses the territory of Ukraine it should be stored separately to meet Ukrainian quality standards. Instead of putting grain of various classes to one tanker you should store it in several tankers,” First Deputy Economic Development and Trade Minister Maksym Nefyodov said at a government meeting on Wednesday.

He said that the adoption of the resolution would help exporters to save up to 15% on logistics.

Earlier grain market players declared problems with creating grain batches for exports at elevators. A lack of infrastructure for storing grain of various classes is seen.

The European Business Association (EBA) said that these problems surfaced because of non-compliance of old standards and the agency’s rules with the current demands of the market.