Idea of creating Black Sea grain pool unrealistic for Ukraine, says expert

Kyiv, September 27 (Interfax-Ukraine) – The Ukrainian Agrarian Confederation (UAC) considers the idea of creating the Black Sea grain pool unrealistic, Confederation President Leonid Kozachenko has told reporters at a press conference at Interfax-Ukraine

"I think the idea of creating the pool is unrealistic today," he said.

According to Kozachenko, state monopoly on grain exports is required for the functioning of such a pool.

"I think it is impossible to do this in Ukraine: we have more than 400 companies exporting products," said the UAC president.

According to him, companies, when exporting grain, undertake huge risks, hedge them, therefore traders will not agree on this [the creation of the Black Sea grain pool].

At the same time, Kozachenko said that there is a similar organization of oil companies in the world - OPEC, but the number of its participants is less than the number of grain traders in Ukraine.

"This is a good instrument - to keep the price, but given the experience of the previous years, the state is not interested in this," said Kozachenko.