UCAB: the terms of return of foreign exchange for farmers can be doubled

It is proposed to extend the terms of return of foreign exchange for farmers from 90 to 180 days.

On the initiative of the chairman of the Committee on Finance, Tax and Customs Policy, Danylo Hetmantsev, a meeting with representatives of the National Bank and the Cabinet of Ministers was held on April 5. It was written  in UCAB.

At the meeting, they discussed a possible extension of the terms of return of foreign exchange for farmers – from 90 to 180 days. The participants of the meeting supported this decision and sent a corresponding letter to the Cabinet of Ministers.

“Extending the terms of return of foreign exchange earnings up to 180 days, first of all, will facilitate the work of exporters and reduce risks for agricultural producers, whose products during export may face a large number of force majeure related to the war. Because in the conditions that Ukraine currently has, it is extremely difficult to predict the exact number of days, how many grain will be on the road,” commented Oleh Khomenko, Director General of UCAB.

Khomenko emphasized that the term of production, delivery and payment for the purchase of new equipment often exceeds the 90-day limit. Therefore, the extension will help farmers to develop their own processing more efficiently.

Read also: EBA urges the government not to impose manual regulation of agricultural exports

Also, as USM wrote the day before, the farmers of the Kherson region received almost 100 modular granaries.