Acting Minister of Agrarian Policy and Food of Ukraine Taras Vysotskyi and grain market participants signed an annex to the Memorandum of Understanding for the 2024/2025 marketing year.

The annex was signed by the grain market participants: the American Chamber of Commerce in Ukraine, the Ukrainian Grain Association, the European Business Association, the Ukrainian National Agrarian Forum, and the Association of Farmers and Private Landowners of Ukraine.

As an annex to the Memorandum, the parties agreed on the maximum export volume of wheat and a mixture of wheat and rye (meslin) under the UKTZED code 1001 in the 2024/2025 marketing year at 16.2 million tonnes.

According to Taras Vysotskyi, the purpose of signing the Memorandum and its annex is to ensure food security, predictable, flexible and stable grain export regime and the sustainable functioning of the grain market in Ukraine.

The parties agreed to further monitor the volume of grain exports on a monthly basis and, if necessary, to adjust the export limit in January 2025.

Background

In July, the Ministry of Agrarian Policy and Food and grain market participants signed a Memorandum of Understanding for the 2024/2025 marketing year. The parties agreed to cooperate on harmonising the balance sheet characteristics of the Ukrainian grain market in the 2024/2025 marketing year to ensure food security, stabilise the grain market, forecast grain exports and foreign exchange earnings.