In January 2025, there was an increase in virtually all weighted average prices for export agricultural products. The thought that the mechanism of minimum export prices has worked is encouraging, said the Minister of Agrarian Policy and Food, Vitaliy Koval, in an interview with Interfax-Ukraine.
"I always conclude the month with analytics. Even in January, an increase in the weighted average price of export goods was evident. The thought that the mechanism of minimum export prices has worked is reassuring. It is incorrect when 'white' businesses export at around $300 per ton, while others manage to do it for $120 per ton. This has provoked quite a few insinuations," he stated.
Koval noted that there were some difficulties in the first few days after the new export mechanism was implemented— a transitional period when the overall digital database was not functioning.
"As of mid-February 2025, various enterprises and associations had several remarks regarding technical parameters. However, in general, the mechanism has started to function," the Minister of Agrarian Policy summarized.
As reported, from December 1, 2024, Ukraine introduced a regime of export support for operations involving the export of certain types of goods, specifically: natural honey, walnuts, wheat, a mixture of wheat and rye (meslin), rye, barley, oats, corn, soybeans, rapeseed and buckwheat, sunflower seeds, and residues.
The export support regime stipulates that goods can only be exported by registered VAT payers; electronic information exchange between the National Bank, the State Tax Service, and the State Customs Service to monitor and control exporters' compliance with legal requirements; specifics of compiling tax invoices and registering them in the Unified Register of Tax Invoices.
The Ministry of Agrarian Policy and Food sets minimum export prices for goods subject to the export support regime on a monthly basis. The difference between the invoice and customs value of the goods must not be negative.