The Cabinet of Ministers has extended the payment deadlines for farmers regarding exports
The government has allowed producers and exporters of certain agricultural goods to extend the payment deadlines under export contracts.
The Ministry of Economy will be able to extend the established deadline by up to 180 days upon request from an exporter.
The new measure applies to exports of wheat, corn, soybeans, sunflower seeds, sunflower oil, and sunflower meal.
The Cabinet of Ministers explained the decision by citing logistical complications caused by Russian attacks on civilian vessels and port infrastructure in the Black Sea region. The additional time is intended to help businesses fulfill their contracts, maintain exports, and preserve foreign currency inflows.
Source: Serhiy Koretskyi, Prime Minister of Ukraine.
As a reminder, Ukraine has increased its trade in agricultural products with the EU by 11%.
The All-Ukrainian Agrarian Council (VAR) has appealed to Prime Minister Serhiy Koretsky, urging him to take immediate measures to resolve the issue of blocked seaports. The association warns that a further deterioration of the situation could lead to mass bankruptcies of agricultural enterprises and a large-scale crisis in one of the key sectors of the Ukrainian economy.
