The European Commission will introduce an additional quota for duty-free imports of Ukrainian grain. It was reported by FranceAgriMer, the agricultural agency of French government. Appropriate decision is likely to be approved and will come into effect in April.. Duty-free quota will include 0.95 million tons of wheat, 0.4 million tons of corn and 0.25 million tons of barley. And, it will stay effective until October 31, 2014.
Later, after the economic part of the Association Agreement between Ukraine and the European Union will be signed, the quota for duty-free imports for Ukrainian grain will be extended for five years and will be increased to 1 million tons of wheat, 0.65 million tons of corn and 0.35 million tons of barley.
The European Union- the most important and especially promising market for Ukrainian grains, especially corn; therefore, introduction of additional quotas is extremely positive news for Ukrainian exporters, this will give them an opportunity to strengthen their position on European product markets. The total export of Ukrainian grain to the European Union, according to the results of past marketing year, is estimated at 7.5 million tons of corn, 1 million tons of wheat and 0.05 million tons of barley.
Recall that 2014 became remarkable for Ukraine due to signing the Association Agreement with the European Union, which promises to open many more prospects for the development of the Ukrainian economy- agriculture, in particular.