Cabinet of Ministers Changes the Procedure for Calculating Minimum Export Prices for Agricultural Products

The Cabinet of Ministers of Ukraine has made a decision to amend the procedure for approving the minimum allowable export prices for certain types of agricultural products. This decision was made during a meeting on March 21, as reported by government representative in the Verkhovna Rada Taras Melnychuk on his Telegram page.

This is reported by AgroReview

Melnychuk noted that new items have been added to the list of supply conditions under which minimum allowable export prices are established. Among the products affected by this decision are honey, soybeans, rapeseed, wheat, corn, sunflower oil, and barley.

“The percentile in the calculation of reference minimum export prices for certain types of goods has been changed from the fifth percentile to the tenth percentile using the quantile method,” clarified Taras Melnychuk.

Furthermore, under the new conditions for calculating minimum allowable export prices, prices from the previous month for goods declared based on forward contracts will not be taken into account. Prices from the previous month for goods under certain codes of the UKTZED will also not be considered, particularly when exporting seeds outside the customs territory of Ukraine under the export customs regime. It has been established that the minimum allowable export price for certain types of goods cannot be lower than the minimum price for that product under similar supply conditions in the previous month.