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State-run grain company bought 175,000 t of grain under mortgage scheme
According to operating data from Agrarian Policy Ministry, as of August 9, 2004 the Ukrainian state managed grain market operator - State Joint Stock Company "Khleb Ukrainy" - bought 175,340 tonnes of grain under mortgage scheme, press-service of the Cabinet of Ministers informed on August 10.
Khleb Ukrainy, on the order of the Cabinet of Ministers, is obliged to buy this year 500,000 tonnes of grain at mortgage price. There have been 200,000 hryvnias of funds, allocated from the 2004 state budget for the purpose (5.33 hryvnias = $1).
According to the Cabinet of Ministers' resolution, Khleb Ukrainy is appointed state agent for mortgage purchases of grain of the 2004 crop.
Ukraine's Vice Prime Minister for Agriculture Ivan Kyrylenko earlier declared that Khleb Ukrainy was to complete the operations of mortgage purchases until August 15, 2004.