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Cabinet commissioned State Reserve to sell sugar in volume subject to be renewed within 2008
03.04.2008 10:55 "Agro Perspectiva" (Kyiv) —
As to Cabinet Decree ¹ 279 from 26.03.2008, Cabinet has charged State Committee for Material Reserves (State Reserve) to sell off sugar in volume which is to be renewed within 2008. As to Decree, sugar is to be sold “in order to assure domestic sugar market prices stability.” Decree says State Reserve should sell sugar to State-owned company Resurspostach which is to resell it to companies determined by AR of the Crimea Ministers Council, Regional State Administrations and Kyiv/Sevastopol Municipal State Administrations. As to Decree, sugar sale price markup can’t exceed 15% of State Reserve wholesale price no matter how many intermediaries participate in reselling. Reportedly, Cabinet has decided to make Agrarian Fund sugar (up to 25,000 MT) interventions in order to stabilize domestic market prices. Ukrtsukor forecasts domestic market sugar wholesale prices will boost from UAH2,600-2,850 per MT up to UAH3,500-3,600 per MT (incl. VAT) within 2007/08 MY (Sept/07-Aug/08).
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