The agriculture ministry said on Wednesday that the introduction of Ukraine's new export regime, which will apply to most agricultural products starting Dec. 1, has caused a drop in farm exports for December.

The government has introduced minimum export prices and new controls over shipments, including the use of tax and customs authorities. It also only allows exports to companies who pay value-added taxes.

The ministry stated in a written statement that the volume of agricultural exports in the month of December 2024 was higher than December 2023. It did not provide any figures.

The Ukrainian traders' union UGA announced earlier Wednesday that the volume of exports for key agricultural commodities had increased.

The price of the product has dropped by 35%

In December 2023, the month will be different. Reporting by Pavel Polityuk Editing Bernadette B. Baum

(source: Reuters)