Ukraine to head International Grains Council for the first time – Economy Ministry.

REUTERS

REUTERS

Ukraine will chair the International Grains Council (IGC) for the first time since it joined it.

Ukrainian Deputy Economy Minister Taras Kachka was elected IGC Chairman for 2021/2022, according to the Economy Ministry's press service.

"Grain production and trade are not the only strengths of Ukraine in the context of world trade, but also represent the basis of a balanced food system ... I hope IGC chairmanship will allow Ukraine to widely declare its position as a strong player in the foreign market and make efforts to develop a global grain market," Kachka commented on his election as IGC chairperson.

Ukraine joined the IGC back in 1998. In 2010, it became a full-fledged exporting member, however, it will chair this organization for the first time, the ministry said.

Ukraine will be in chair of the organization from July 1, 2021, to June 30, 2022.

Read also Ukraine grain exports beat 42 mln tonnes mark

International Grains Council

The International Grains Council (IGC) is a leading intergovernmental organization dedicated to deepening international cooperation in grains trade and administering a single international grain trade agreement.

Forecast

  • Experts from the International Grains Council raised the forecast for world grain trade in the current season (July 2020 through June 2021) to a record 412 million tonnes, which is 18 million tonnes more than the previous season.
  • Ukraine's Economy Ministry forecasts domestic grain exports in the current marketing year (MY, July 2020 through June 2021) at 45.42 million tonnes, which is 20.5% less than in the previous MY (57.2 million tonnes).

Translation: Akulenko Olena

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