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The SFGCU plans to finance farmers in the framework of the spring forward program in the amount of UAH 1.3 billion.
The State Food and Grain Corporation of Ukraine announced the state of its spring forward purchase program with a target of 360,000 tonnes of grains from 2019 crops, set to provide farmers with UAH 1.3 billion in advance funds, the Corporation's press service reports.
The statement says the procurement program applies to such crops as wheat, maize, and barley.
The receipt of applications for the conclusion of contracts for the supply of grains of the future harvest is carried out at regional offices.
"The program for the purchase of grains of the future harvest will be held in two stages. At the first stage, agricultural producers shall submit an application with the regional office of the SFGCU, form the necessary package of documents, and enter into a supply contract directly at the Corporation HQ. After the contract is signed, the Corporation makes an advance payment to the agricultural producer's current account in the amount of UAH 3,600 per tonne of grains, including VAT," reads the statement.
It is noted that at the second stage, the SFGCU makes the final settlement after it receives the relevant volumes of grains.
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The press service added that in 2019, the financing rate will be from 9.5% to 13% per annum, depending on the quantity of the contracted goods and delivery basis.
In addition, the Corporation offers an additional discount of 0.25% to agricultural producers who have participated in the program for more than two years, as well as an additional discount for farmers in the amount of 0.25% at the conclusion of the agrarian receipt.
The press service stressed that the conditions of cooperation that SFGCU offers to farmers are transparent, beneficial, and understandable, while calculations contain no hidden fees and are carried out in a timely manner and without delay.
As UNIAN reported earlier, on October 29, 2018, the State Food and Grain Corporation of Ukraine (SFGCU) announced the start of the autumn program of forward purchases of 2019 winter grain crops with the aim of providing UAH 1.3 billion in advance funds to farmers.
UNIAN memo. The State Food and Grain Corporation of Ukraine is a vertically integrated company that is engaged in the entire cycle of work with grains and processing: from production to exports. The structure consists of 55 branches with a total working capacity of 3.75 million tonnes of crops, including the total handling capacity for exports at the ports of Odesa and Mykolayiv at about 2.5 million tonnes of grain cargo per year.