Ukraine to adjust minimum export prices through year-end, traders advised to revise delivery terms in September

Ukraine’s Ministry of Agrarian Policy and Food has received complaints from exporters over discrepancies between minimum export prices and actual prices in foreign trade contracts. According to Agriculture Minister Taras Vysotskyi, in some deals actual contract prices are below the minimum levels allowed for customs clearance, complicating export operations.

In September, traders are advised to review their Incoterms delivery basis and select terms under which the minimum export price is closest to the actual contract price. Vysotskyi said that for each commodity there are delivery terms under which the established minimum prices may be lower or closer to prevailing market levels.

The September minimum prices cannot be changed immediately. Current legislation requires them to be set once a month, by the 10th day of each month, meaning that changes to already approved levels would require amendments to the law. According to the minister, this cannot be done in September as the next plenary session of Ukraine’s parliament is scheduled for October.

To address the imbalance, the ministry has prepared a document proposing the use of a reduction coefficient in calculating minimum export prices through the end of 2026. The coefficient of 0.714, which was already applied in August, is proposed to remain in effect in October, November and December.

The ministry says the measure is needed because of uncertainty over when operations at the Greater Odesa ports and seaborne trade will fully recover. Once the government decision is approved, minimum export prices for October–December are expected to be adjusted so that they do not exceed actual market levels.

Tags: restrictions, Ukraine, export, grain, prices, oilseeds