Ukraine. From today, the terms for returning foreign currency earnings for agricultural exporters have been extended

The National Bank of Ukraine increases from 90 to 120 days the deadline for settlements on operations of export of some types of agricultural products made from July 12, 2024.

This is reported by the press service of the NBU.

We are talking about goods classified under the following codes according to the UKTVED: 1001 (wheat), 1002 (rye), 1003 (barley), 1004 (oats), 1005 (corn), 1201 (soybean), 1200 (rapeseed (sunseed), 1507 (soybean oil), 1512 (sunflower oil), 1514 (rapeseed oil) and 2306 (oil cake).

Increasing the settlement deadlines will support domestic agro-product exporters, given the logistical challenges they face. In addition, it will expand their opportunities to develop new markets, in particular, Asia and Africa, which Ukraine needs under war conditions.

At the same time, the deadlines for settlements on export transactions for certain types of agricultural products will remain 60 days shorter than for all other domestic exports (180 days). This will further improve the discipline of timely return of foreign currency proceeds to Ukraine in the agricultural sector.

The above changes were adopted by Resolution of the Board of the National Bank of Ukraine No. 84 “On Amendments to Resolution of the Board of the National Bank of Ukraine No. 67 dated May 14, 2019” dated July 09, 2024, which comes into force on July 11, 2024.