Ukraine's Agricultural Policy and Food Ministry jointly with the Finance Ministry are mulling the provision of additional funds to support small and medium farms in 2016, Agricultural Policy and Food Minister Taras Kutovy said at the Agro 2016 international exhibition in Kyiv on Wednesday.

"We are discussing the proposal to increase [financial assistance to farmers] with the Finance Ministry. I think that soon it will be clear if these funds are provided," he said.

Kutovy said that the additional funds will be sent to small and medium agricultural market players.

"The financial assistance will be provided to producers [with a land bank of] up to 500 ha who cannot take commercial credits now," the minister said, adding that support of small farmers will be implemented in the form of cooperation.

Ukrainian Prime Minister Volodymyr Groysman who also visited the exhibition said that farmers would receive additional funds from the state.

Earlier Kutovy said that by autumn Ukrainian farmers will be able to receive promised UAH 450 million of assistance from the state if the Verkhovna Rada passes amendments to the national budget.