Ukraine to lift quotas on grain exports from July 1
KYIV. April 6 (Interfax) - The Ukrainian government does not plan to extend curbs or quotas on grain exports beyond July 1, 2011, Agriculture Minister Mykola Prysyazhnyuk has said.
"The government has made the decision not to apply any curbs or quotas to grain exports from July 1," he said at a press conference in Kyiv on Wednesday.
The mechanism of forward purchases inspires the confidence in stability on the domestic market after the curbs are lifted, he said.
Reports said earlier that the Ukrainian government in October 2010 introduced quotas on grain exports until December 31, 2010. The quotas were extended at the end of last year until March 31, 2011 and the total size of the quotas was increased by 1.5 million tonnes to 4.2 million tonnes.
The government extended the quotas on March 30 until June 30, 2011, concurrently increasing the quotas for corn by 2 million tonnes.
The quotas have been distributed twice since then in a way that was much criticized by market players: many companies failed to secure in due time confirmation of the availability of grain from the agriculture ministry, required for applying for a quota.