Grain market participants signed a Memorandum of Understanding for 2018-19

The Ministry of Agrarian Policy and Food of Ukraine and the grain market participants signed the Memorandum of Understanding for MY2018/19, AgroPolit.com reports.

The total agreed indicative volume of wheat exports is 16 million tons, that is milling and fodder wheat will be exported in equal volumes — 8 million tons each.

In September 2018, the Agrarian Ministry will introduce a new state standard for wheat.

"As a result of signing the Memorandum, the number of wheat classes will be reduced," the message says.

Thus, the number of wheat classes will decrease from the current 6 (5 milling and 1 fodder) to 4 (3 milling and 1 fodder).

"Market participants need a clear understanding of the change in the rules to avoid problems with the re-qualification and storage of grain, ensuring the observance of export contracts," AgroPolit.com sources stress.

The full text of the draft "Memorandum of Understanding between the Ministry of Agrarian Policy and Food of Ukraine and participants of the grain market for MY2018-2019 (effective since 01.07.2018)" is available by the link.