In early October 2010 Ukrainian Government introduced grain export quotas for a term of up to 31.12.2010. At the end of last year, the effect of this decision was extended until 31.03.2011. Thus the total quota compiled 4.2 million tons. Within the latter distribution “NIBULON” did not get the quota, so we had to suspend the purchase of grain and to deal exclusively with purchase of soybeans, rapeseed and sunflower seed. By the decree № 463 dd. 27.04.2011, the Government amended the annex to the decree of the Cabinet of Ministers of Ukraine of 4 October, 2010 № 938 (938-2010-P) “On setting the volumes of quotas for certain types of agricultural products, export of which is subject to licensing by the 30th of June 2011, and adoption of the procedure of issuance licenses for export of certain types of agricultural products and quota distribution” including “corn” position. In turn, on the 21st of May 2011 “NIBULON” again renewed purchase of corn for farmers at a price of UAH 2300 per ton. For comparison, the last price for corn at the transshipment terminal of “NIBULON” compiled UAH 1700 per ton as of 09.01.2011. Soon we will renew cooperation with private enterprises that do not have the status of agricultural producers, we will announce about the terms of cooperation with them on our website and voicemail machine. 19.05.2011, the Verkhovna Rada of Ukraine adopted a law on imposing duties on wheat export (9% but not less than EUR 17 per ton), corn (12% but not less than EUR 20 per ton) and barley (14% but not less than EUR 23 per ton). The law “On Amending the Tax Code of Ukraine and approval of export duty fees for certain types of grain crops” is awaiting the signature of the President of Ukraine. As soon as it enters into force, our company will be ready to arrange the purchase of wheat. You can find appropriate information on our website and answering machine. We want to remind you that “NIBULON” continues to purchase sunflower at a price of USD 5000 per ton – for farmers, and USD 4600 per ton – for commercial enterprises.
