Information for fruit and vegetables business in CIS
Cabinet stirs up intervention purchases
The Cabinet of Ministers of Ukraine has passed the Decree "About Additional Measures on Realisation of Mortgage Operations with Grain".
For financial maintenance of mortgage and intervention operations with grain in 2003 the sum of 70 million hryvnias from state budget is supposed to be allocated. Of these, 55 million hryvnias are to be directed for financial support of intervention operations by way of purchasing grain into intervention fund, reimbursement of costs of reception, storage, shipment and processing of grain; 15 million hryvnias will be directed for financial support of mortgage operations by indemnification of banking rates, reimbursements of storage, reception, shipment and insurance costs of unclaimed mortgage grain (5.33 hryvnias = $1).
The grain of intervention fund can be used as a security for bank credits, which are attracted for realisation of mortgage operations.
The purchasing prices will be determined by the Ministry of Agrarian Policy together with the Ministry of Economy, subject to approval by the Cabinet of Ministers.