Kozachenko: in case of foundation of the Black Sea grain pool, grain traders to have losses

The possible foundation of the Black Sea grain pool by Ukraine, Russia and Kazakhstan, which includes a the state monopoly on grain exports, may result in significant losses of grain traders operating in Ukraine, declared Leonid Kozachenko, President of Ukrainian Agrarian Confederation, on October 16.

According to him, traders will find themselves in a very difficult situation. In such way it is quite possible to destabilize and cause huge damages to a large number of economic entities.

According to the expert, realization of the idea of the grain pool includes either foundation of the single public export of grains, or the public diktat of grain prices, which would complicate the work of the Ukrainian grain market. Thus, the large-scale companies involved in the grain trading industry, would leave Ukraine.

The President of Ukrainian Agrarian Confederation considered that neither the WTO nor the European Union support the idea of establishment of the Black Sea pool.

L.Kozachenko also stressed that traders still did not receive any official documents that explain the rules of work in such pool.