The National Bank of Ukraine has halved – from 180 to 90 days – the deadline for settlements for export transactions of 12 product groups from the so-called agricultural section 1-24 of the Ukrainian foreign activity codes, carried out from November 11, 2023.

"The corresponding decision was made on the recommendation of the Cabinet of Ministers... It is intended to strengthen the discipline of compliance by foreign economic activity entities with the deadlines for settlements for transactions for the export of goods and to ensure the return of foreign currency earnings within the established deadlines for settlements for individual transactions for the export of goods," the NBU said in a statement on Friday.

It concerns, in particular, commodity codes: 1001 – wheat (exports for 10 months of this year $2 billion 454.2 million), 1002 – rye ($1.4 million), 1003 – barley ($301.8 million), 1004 – oats ($0.7 million), 1005 – corn ($4 billion 37.0 million).

This list also includes 1201 - soybeans ($908.3 million), 1205 - rapeseeds ($925.1 million), 1206 00 - sunflower seeds ($251.9 million), 1507 - soybean oil ($203.5 million), 1512 – sunflower oil ($4 billion 39.5 million), 1514 – rapeseed and mustard oil ($264.0 million) and 2306 – cake ($787.2 million).

The National Bank said that these changes were adopted by NBU Board Resolution dated November 10, 2023.