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President instructs to stabilize situation at food market

Posted by the Editor on August 31, 2010

News / 31 August 2010 | 16:25

President instructs to stabilize situation at food market

President instructs to stabilize situation at food market

President of Ukraine Viktor Yanukovych signed the order to stabilize the situation at the food market, and ensure availability of first priority goods to the public by preventing unreasoned growth of their prices, presidential press office reported.

The Government, Antimonopoly Committee of Ukraine, and regional executive authorities are to immediately inspect the cause for rapid increase in prices of agricultural goods, particularly of buckwheat.

Prime Minister of Ukraine Mykola Azarov was instructed to provide intervention of the State Reserve Committee and Agrarian Fund of Ukraine into the market by selling buckwheat from their stocks. The Government is to prepare the infrastructure for accepting and storing this year’s harvest of buckwheat with minimal losses.

Also, the officials are to immediately begin negotiations with exporters of buckwheat in order to cover demand in Ukraine, and consider introducing subsidies on crops of buckwheat and futures contracts for the purchase of buckwheat by the Agrarian Fund from agricultural producers.

The question of introducing export duties on buckwheat under WTO rules must be considered separately.

By the end of the year, the Government must ensure long-term forecasts of the balance of production, consumption and exports and imports of agricultural products in order to prevent imbalances in food markets.


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