By KYIV. Nov 20 (Interfax-Ukraine) – The Ministry of Agrarian Policy and Food and the Ukrtsukor National Association signed a memorandum of cooperation to maintain a stable situation in the domestic market, prevent restrictive measures and increase sugar exports, in particular to the European Union.
The ministry’s press service said that according to the memorandum, the parties will agree on the maximum possible volumes of sugar exports based on the preliminary balance of supply and demand in the 2023/2024 marketing year (MY). They will also adjust the situation taking into account the spring sowing and growing season of plants.
The Ministry of Agrarian Policy and Ukrtsukor will also discuss the current situation and determine export volumes.
In addition, the Ministry of Agrarian Policy reserved the right, enshrined in legislation, to initiate government regulatory measures in the event of threats to the state’s food security. However, in the event of initiation of measures to change the regimes of foreign economic activity, the introduction of licensing and quotas, the parties will conduct preliminary consultations.
Ukrtsukor, in turn, will inform the Ministry of Agrarian Policy about the actual implementation and prospects of sugar exports. Having received notification from the ministry to stop exporting, the business association pledged to take the necessary measures to inform the public.
The Ministry of Agrarian Policy will also help increase sugar exports, for which it will hold negotiations with the European Union on further duty-free and quota-free exports of sugar to EU countries, according to the statement.
The memorandum comes into force from the date of signing and is valid until September 1, 2024.
