News
22.01.2013
Agrarian Fund sells grain at UAH 0.5 billion at agricultural stock exchange
The Agrarian Fund sold nine lots to the amount of 225,300 tons of grain at the first open stock exchange trading. The Fund received about UAH 492 million, which will be enough for advance payment for forward contracts.
Director General of the Agrarian Fund Ihor Yakubovych has said about this, agronews informs.
“The trading results are a success. We sold nine lots. On average, 225,300 tons of grain was sold worth approximately UAH 50 million for every lot. Currently, money should come to the account until 12 p.m. on Tuesday. If money is not received, the guarantee payment is lost to the amount of 5%, i.e. approximately UAH 2.4 million. 75,000 tons, which were not purchased, will be storaged,” Ihor Yakubovych noted.
Therefore, the Agrarian Fund sold grain at UAH 492 million, which will be enough for advance payment for new forward contracts.
“The Agrarian Fund is planning to start forward contracts for another 500,000 tons of grain in the nearest future. In other words, the received trading results comply with our plans, therefore, there is no need to hold additional trading,” Ihor Yakubovych added.
Four companies were among the buyers. In total, five companies showed a final interest in participation in the trading, who subscribed until 12:00 p.m. on Monday.
To remind, wheat subject to selling was distributed into 12 lots, each of them to the amount of about 25,000 tons.
