Memorandum of Understanding for the 2019-20 season signed by grain market participants

The Ministry for Development of Economy, Trade and Agriculture of Ukraine and grain market participants signed the Memorandum of Understanding for the 2019/20 season.

"This document contains the mechanisms of interaction between the participants of the grain market, exchange of information on the prospects of grain crops export, monitoring the functioning of the grain market," the European Business Association says in a statement.

This year, the Memorandum contains no annexes restricting commodities export. It is also reported that market participants have agreed to meet every last Monday of the month and exchange current information and, as appropriate, to talk about restrictions quantified.

As of October 2nd, harvesting of grain and leguminous crops in Ukraine was conducted on the area of 11.5 mln ha or 75% of the total. The crop reached 47.6 mln t using the average yield of 4.15 t/ha, 11.8% higher from the previous year (2018: 3.71 t/ha).