Suspension of grain exports over quarantine may lead to bankruptcies, expert suggests

He believes compensation would be a fair option.

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President of the Ukrainian Agribusiness Club Association (UCAB) Alex Lissitsa says the halt of exports of grains and other major export staples may lead to bankruptcies so the government must make a balanced decision amid national quarantine.

"We'd like to believe that the government will make a balanced decision and won't impose a ban on major export staples for Ukrainian agrarians, such as grains, oilseeds, vegetable oil, and poultry. This may completely shut down the industry and lead hundreds or thousands of businesses to bankruptcy, depriving thousands or even hundreds of thousands of their jobs," he wrote on Facebook on March 16.

Read alsoUkrainian farmers export over 42 mln tonnes of grain since July 1

The expert also stressed that the United States and the European Union promised to compensate exporters for losses due to the suspension of exports.

As UNIAN reported earlier, the Cabinet of Ministers on March 11 decided to introduce quarantine across Ukraine from March 12 to April 3.

On March 16, Ukrainian President Volodymyr Zelensky urged the government to ban exports of certain food products. The Cabinet of Ministers is yet to draw a list of such goods.

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