Ukraine's Agricultural Policy and Food Ministry and grain market players signed a memorandum of understanding between the ministry and grain exporters for 2016/17 agricultural year (July-June).
The memo aims at stabilizing the grain market in the country and ensuring the predictable grain exports for 2016/17 agri-year.
The document contains mechanisms for cooperation between grain market players, exchange of information and monitoring.
"The memo does not contain any figures. The importance of the event is that all market players accepted the position that exports will be discussed with the ministry in the context of harvest forecasts," Minister Taras Kutoviy said at the signing ceremony.
He said that this position is important, but this approach contains risks that could affect business if forced steps are made to resolve exports problems.
"We will present forecasts at the first important harvesting stages. According to the preliminary assessment of fields there is no threat on the domestic market and Ukraine will have bread," the minister said.
Representatives of the American Chamber of Commerce, Ukrainian Grain Association, Ukrainian Agrarian Confederation, European Business Association, Ukrainian Agribusiness Club, Grain and Feed Trade Association (GAFTA), Association of Farmers and Private Landowners, Agrarian Union of Ukraine and Ukrainian Millers signed the document.