Ukraine calls for setting up organization of grain exporting countries - agrarian policy minister

KYIV. May 16 (Interfax-Ukraine) - While speaking at a G7 conference of agriculture ministers in Stuttgart, Ukrainian Agrarian Policy Minister Mykola Solsky proposed discussing the establishment of an influential organization of grain exporting countries to properly respond to modern challenges and threats to food security.

Among the objectives of this organization, Ukraine sees, in particular, setting grain export limits to stabilize the market and make it predictable and developing a mechanism for earmarking residues of agricultural products for the needs of the green sector of the economy, the ministry said in a statement.

This organization could also impose consolidated restrictive measures against unfriendly actions by food importers, especially in case of protectionist measures by third countries against imports of byproducts.

In Ukraine's view, another principle to be instituted by this organization should be the storage of residues of grain contracted by third countries mostly in producing countries.

Solsky also urged his counterpart to do whatever they can to unblock exports of agriculture products from Ukraine.

"The blockade of Ukrainian seaports has prevented 7 million tonnes of wheat, 14 million tonnes of corn, 3 million tonnes of sunflower oil, and 3 million tonnes of sunflower meal, as well as other crops, from reaching the global market. This has triggered record growth in prices on the global market and will inevitably entail a global food crisis and inflation growth," he said.