Saudi Arabia will buy Ukrainian barley on forward contracts
2011-12-07 17:12:56
Ukraine and Saudi Arabia agreed on forward supplies of Ukrainian barley, Serhiy Kvasha has said, director of the economic development and agrarian market department at the Agrarian Policy and Food Ministry.
"A visit by Agrarian Policy and Food Minister Mykola Prysiazhniuk to Saudi Arabia enabled to conclude the terms for forward supplies of barley from Ukraine. This is the way, used by the Agrarian Fund of Ukraine: 50% of advance payments on conclusion of the contract, 20% - over vegetation and final 30% - when mutual settlements are completed," the director said.
As it was reported, next year Ukraine plans to increase barley export to Saudi Arabia to 5-7 million tons.