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Grain prices on Ukrainian market increased since start of 2016 - Agricultural Policy and Food Ministry

Grain prices on Ukrainian market increased since start of 2016 - Agricultural Policy and Food MinistryUkraine's Agricultural Policy and Food Ministry has said that grain prices on the domestic market have increased from 11% to 26% since the start of the year thanks to returning the VAT refunding system early 2016.

"Now purchase grain prices inside the country have grown from 11% to 26% since early 2016, while global spot prices have decreased by 7% for wheat, by 2% for corn, according to data from international exchanges," the ministry reported, citing Minister Oleksiy Pavlenko.

Read also: Ukrainian agricultural enterprises received record net profit in 2015 - Ministry of agrarian policy and industry

He said that domestic purchase prices of third class wheat grew by 12%, fourth class wheat – 11%, fifth and sixth class wheat – 16%, rye – 22%, barley – 11% and corn – 26%.

The parliament at the end of 2015 passed amendments to the Tax Code enabling the return of VAT refunding for exports of grain crops.
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