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Agrarian Fund likely to start grains export
30.07.2009 08:43 "Agro Perspectiva" (Kyiv) —
As to Minister of Agrarian Policy Yuriy Melnyk report, Agrarian Fund presently tries to find out grains export acceptable mechanisms. “We elaborate scheme of grains export from Agrarian Fund, − to be realized through legal mechanisms and with grains to be exported directly or through State-owned companies,” declared Melnyk. Melnyk explained scheme elaboration was prompted by current grains export market high riskiness. “Imagine Agrarian Fund comes to foreign market and concludes export contract. It is to be minded, this market competition is very active, with relations between operators being often tough. In case even if Agrarian Fund fulfils just 1 contract for grains insignificant amount (about 2,000-3,000 MT), − it runs risk of facing claims for grains low quality in any country whereto it would export grains, with bank accounts possible arrest. I don’t know what is to be done if this occurs,” emphasized Minister. Melnyk added Agrarian Fund grains export mechanism is to be carefully elaborated. “Agrarian Fund has legal right to create State-owned companies. Thus, it seems reasonable that Fund should create State-owned company which would export grains with less risk than Fund itself. However, this possibility must be carefully considered to evade double taxation, − since, up to this scheme, Agrarian Fund and State-owned company must made purchase/sale operation, what means VAT payment. So, we must consider how many times VAT is to be paid…” admitted Melnyk. As to Agro Perspective earlier report, Agrarian Fund had been given grains export right.
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