Ukraine. 50 KMT of soybeans to be forward-purchased
The State Food Grain Corporation of Ukraine (SFGCU) has started making forward purchases of the 2017 crop. To date, SFGCU has received UAH 160 Ml worth of applications from growers under the 2017 forward program (1.5 times more than under the total forward program in 2016).
Overall, apart from cereals, it is projected to forward purchase 50 KMT of soybeans in 2017, reports UkrAgroConsult.
At the moment, the SFGCU signs forward contracts solely with small and medium-sized growers.
As a reminder, the SFGCU was founded by the government of Ukraine in August 2010. It comprises an extensive network of branches (totaling 53), inland and port silos, mills, compound feed and groats plants.