The relevant amendments were made to the Order of the Ministry of Agrarian Policy and Food of Ukraine #661 from 13/10/2016. The Cabinet of Ministers approved this decision last week.
Due to the unreasonable ban, our farmers suffered significant losses while being deprived of $8-10 per each ton of grain, which, in its turn, led to a significant reduction in liquidity of domestic enterprises.
The Better Regulation Delivery Office experts estimated that the economic effect of the abolition of this ban would be more than 10 billion dollars by 2020. Logistic losses will be significantly reduced (by a minimum of 12%), the capacity of elevators, the ports load and, revenues to the budget will be increased.
We hope that this decision will be adopted according to all procedures of approval at an early date.