21 may 2010 13:13 Ukraine initiates to set up Black Sea region grain exchange
Ukraine initiates setting up of an exchange of the Black Sea region countries to trade in grain, First Deputy Agrarian Policy Minister Serhiy Melnyk told at the Ninth International Conference Grain Forum & Grain Industry 2010 in Yalta.

According to him, the agency intends to propose a number of the Black Sea region countries to set up exchanges for trading in grain both with Russia and Kazakhstan and other countries.

The Deputy Minister underscored that Ukraine has a rather developed infrastructure in this region which is an advantage for the country.

"Therefore, we will defend our prices," Melnyk said adding that it will allow influencing the world price level.

Melnyk informed that the exchange is planned to be built on Ukraine's territory.

Earlier it was informed that Ukraine is interested to build the grain terminal jointly with Kazakhstan in one of Ukrainian ports.

The Deputy Agrarian Policy Minister also forecasted that the grain yield in Ukraine this year can make up 48 million tons against 46 million tons in 2009.

Melnyk also believes that the expected increase of the grain yield this year will allow Ukraine in the next marketing year (MY, July 2010-June 2011) to supply no less than 20 million tons of grain to foreign markets.

UKRINFORM