Ministry: Domestic grain prices gain in Ukraine since early 2016

11:34, 06.04.2016 1 min read

Ukraine'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.

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.