Agricultural exporters may have their foreign exchange earnings returned for an extension of up to 150 days

The Ministry of Agrarian Policy will submit to the Cabinet of Ministers a proposal to increase the deadline for the return of foreign exchange earnings from the export of basic grains, oilseeds and vegetable oil from 120 to 150 days.

This was announced by the Minister of Agrarian Policy and Food Taras Vysotskyi.

According to him, the additional 30 days were determined after consultations with farmers, taking into account the current logistics. The ministry expects that the government, together with the National Bank, will be able to make a relevant decision next week.

This concerns the export of wheat, rye, barley, oats, corn, soybeans, rapeseed, sunflower, soybean, sunflower and rapeseed oil, as well as oilcake.

Since July 2024, an extended period for the return of foreign exchange earnings has already been in effect for these goods – 120 days instead of 90.

It was previously reported that disruptions in the Black Sea could reduce global grain exports by 86 million tons.