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Costs for chartering grain carriers to Turkey halve, cargo insurance down by 2.6 times – Economy Minister
KYIV. Aug 12 (Interfax-Ukraine) – The cost of chartering ships to Turkey halved since the Istanbul grain agreements concluded on July 22 on the export of agricultural products from Ukrainian seaports, while the cost of cargo insurance decreased by 2.6 times, from 4% to 1.5%.
These factors, together with the growth of domestic prices for agricultural products in Ukraine, will positively influence the stabilization of the country’s agro-industrial complex, Minister of Economy Yulia Svyrydenko said on Facebook following a meeting between government members and businessmen of Cherkasy region.
"At the same time, we are expanding the capacity of western logistics routes. We understand that even after the complete unblocking of Ukrainian ports, this export direction will remain strategically important," she wrote.
The minister clarified that the volume of grain supplies from Ukraine to foreign markets is gradually growing – from 1 million tonnes in April to 2.7 million tonnes in July, therefore, the priority of the Ministry of Economy is to continue the dialogue with foreign partners so that the export quotas granted to Ukraine in May for one year were extended further.
According to Svyrydenko, the ministry is also making efforts to ensure that applications from entrepreneurs to extend the deadlines for making settlements on export-import transactions (return of foreign exchange earnings) are processed as quickly as possible.
"Our task is to ensure that the share of value-added products in the structure of agricultural exports is constantly growing. This will allow producers to receive more revenue while reducing the volume of exports and improve our logistics capabilities," the minister stressed during the meeting.
