Information for fruit and vegetables business in CIS
President signed law to allocate funds for purchase of agricultural products
President of Ukraine Leonid Kuchma has signed changes into the law "About the State Budget of Ukraine for 2003 ", according to which 400 million hryvnas will be allocated to the State Material Reserve for purchase of the Ukrainian origin grain, oilseeds, meat and sugar (5.33 hryvnias = $1).
The law had been passed by Verkhovna Rada on October 2. These changes will allow filling up and renewing the state material reserves of Ukraine with agricultural products.
Besides, this will help to load at full measure the capacities of processing enterprises, and auction sales will not be obligatory for realisation of the purchases, stipulated by the law.
As it was informed earlier, the government plans to buy for the State Reserve up to 100,000 tonnes of the Ukrainian origin sugar at 2,370 hryvnias per tonne, and also sunseeds at the price about 900 hryvnias per tonne, for stabilisation of the prices in these markets.