News
16.11.2007
Ministry of Agrarian Policy Initiatives regarding the State Food Reserves
On October 26 the Ministry of Agrarian Policy made public the Draft Resolution of the Cabinet of Ministers “On Amendments to the Resolutions of the Cabinet of Ministers # 736, dated May 16, 2007; # 543, dated June 6, 2005 and # 1029, dated October 25, 2005”. The main objective of the Draft Resolution is to improve: mechanism of the state food reserve formation, procedure of state forward grain purchases and By-Laws “On the Agrarian Fund”. With the Draft Resolution it is proposed to amend principle of determination of forward contract’s term. According to the current legislation forward contract is concluded on the term not longer than one marketing year. Due to the fact that the term of contract conclusion and execution of liabilities on grain supply often do not correspond with the marketing period, the Draft Resolution proposes to fix the term of contract conclusion at 12 months framework. Also responsibilities of the Agrarian Fund are specified. In particular, the Agrarian Fund is to provide preservation of objects of state price regulation, calculate natural losses, and compensate losses connected to such preservation. Furthermore, it is envisaged to add agreement between producer and the Agrarian Fund certified by notary to the list of documents required for forward contract conclusion. Please click here to find more details on the Draft Resolution and the Analyses of Regulatory Influence ( Ukr ).
minagro.gov.ua
