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Ukraine may initiate creation of world grain reserve under UN auspices

Posted by the Editor on July 28, 2011


News / 28 July 2011 | 14:33

Ukraine may initiate creation of world grain reserve under UN auspices

Ukraine may initiate creation of world grain reserve under UN auspices

Experts of the Agriculture Ministry and the National Academy of Agricultural Sciences are preparing a memo to the President on the initiative of creating a world fund of grain under the UN auspices. It is also proposed to establish a reserve stock of grain in Ukraine, President of the National Academy of Agrarian Sciences of Ukraine Mykola Bezuhly announced during a press conference at UKRINFORM.

“The deficit of grain in the world will be constant. Therefore, Ukraine can initiate the creation of the world’s grain reserve under the auspices of the United Nations. This fund will be owned by the Food and Agriculture Organization of the United Nations, FAO. The reserve should be funded by international financial institutions. Ukraine can also benefit from participation in the creation of the world grain reserve,” Bezuhly said.

The Academy President noted that, under the program Grain of Ukraine, within the coming six years Ukraine may reach annual grain production of 80 million tons. Of these, 35 million tons will be spent for domestic needs, and the rest for export. Ukraine’s grain reserve may be of 5-10 million tons.

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