Farmers start supplying grain bought under forward contracts to Agrarian Fund
Farms who signed forward contracts with the Agrarian Fund of Ukraine for grain from the 2013 harvest have started supplying the grain to the fund's certified elevators.
"Last week, farmers started re-registering grain on the state intervention fund. Warehouse documents have been drawn up for the Agrarian Fund for a volume of 31,100 tonnes of grain," reads the report of the fund issued on Monday.
The prices of grain supplied are market prices calculated on the basis of average fixing prices formed on the Agrarian exchange on the day of the re-registering of the grain. There are differences in prices in the regions depending on the location of the grain warehouse to which the grain is shipped.
As reported, in late 2012 and the first quarter of 2013, the Agrarian Fund signed forward contracts to buy over one million tonnes of grain of the new harvest. According to the conditions of the contracts, farmers received UAH 939 million of budget funds as an advance payment for the future grain supply.
