Ukraine's Ministry of Agricultural Policy and Food together with the State Property Fund (SPF) have initiated the privatization of PJSC State Food and Grain Corporation of Ukraine, adviser to the Minister of Agricultural Policy and Food Oleksiy Zubrytsky has said.

"During the last meeting of the working group we jointly with the State Property Fund decided to initiate, request the government to put this company up for privatization," Zubrytsky said at a press conference in Kyiv.

According to him, the said company should be privatized because its losses of UAH 3.5 billion last year with the potential profit being at least $100 million is nonsense.