On opening the conference, the Deputy Chairman of the Committee Serhiy Tereshchuk noted that the Verkhovna Rada of Ukraine adopted the Law “On Agricultural Receipts” on November 6. According to the people’s deputy, agricultural receipt is the commitment to supply agricultural products or make payment after such products have been sold, in exchange for obtaining credits necessary for business.
This law allows for the possibility to grant crediting to agricultural producers, first of all small and medium ones, which do not have enough liquid assets except for the rights to the upcoming harvest on security of these receipts.
The adoption of the law, according to the people’s deputy, will provide agricultural producers with the possibility to use material, technical and financial recourses on security of the upcoming harvest. It would be the first step on the path toward establishing a reliable system of commercial and financial support of Ukraine’s agricultural sector.
People’s deputy believes that we can expect about UAH 3 billion of credit resources income already in the first year after agricultural receipts are being implemented.
Viktor Andriyevskyi, the Director of the Institute for Agrarian Markets Development, stressed the necessity of adoption the bill to amend several legislative acts of Ukraine regarding Guarantee Fund enforcement of obligation concerning warehouse receipts for grain (Reg. No. 9611) by the Verkhovna Rada as soon as possible.
By results of discussion, the participants of the event decided to address the Chairman of the Verkhovna Rada of Ukraine Volodymyr Lytvyn with a request to speed up consideration of the bill to amend several legislative acts of Ukraine regarding Guarantee Fund enforcement of obligation concerning warehouse receipts for grain, as well as its final adoption.
The spokesmen believe that there is a need to establish permanent working group at the Ministry of Agrarian Policy and Food that would develop a package of regulations to ensure implementation of agricultural receipts and effective functioning of the Agricultural Fund.